Cooking ingredients and meals registered value sales growth across the market in 2023 due to rising prices while volume sales growth was modest. Consumers sought out lower priced options such as private label and stand-up pouches due to ongoing inflationary pressures.
In 2023, cooking ingredients and meals achieved moderate growth in retail volume sales, with greater dynamism in value sales given the ongoing inflationary pressures being experienced in the country, albeit to a lesser extent than in the previous year. Consumers continued to look for lower-priced product options such as blended edible oil, which is cheaper than edible oils made with only one type of vegetable oil.
In Honduras, most people eat three meals a day comprised of breakfast, lunch and dinner, with lunch being the most significant and largest daily meal. In the past, the typical traditional Honduran diet was comprised of starches, fresh fruit, and meat, usually in Caribbean-style dishes.
The basic food basket is comprised of only 20 products, including meat, poultry, eggs, onions, tomatoes, red beans, coffee, rice, corn, corn flour, wheat flour, fresh milk, powder milk, sugar, butter, fruit juice and vegetable juice. Although the majority of the Honduran population consumes at least some of these foods, wealthier demographics opt for higher-end brands and better-quality products.
In December 2022, the Honduran government adopted the “exception regime”, a policy similar to that implemented in El Salvador in previous years. The purpose of this programme is to combat crime in the country that is generated as a result of the presence of gangs, giving local authorities the power to make arrests without the need for a court order.
From 2024, the Honduran cooking ingredients and meals market is projected to see sustained, albeit moderate, growth in retail volume sales. Products such as vegetable oil, mayonnaise, cooking ingredients and condiments already have high levels of penetration as they are incorporated into the eating habits of the majority of Hondurans, and profound changes in consumer behaviour are not expected in the short term.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Honduras with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Honduras, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!