By 2022, retail sales of alcoholic drinks were able to recover to 2019 volume levels. Nonetheless, inflationary pressures and tight budgets continued to have a negative impact on on-trade sales.
For 2022, consumption of alcoholic drinks at home remained relevant, with volume sales growing significantly in relation to the years before the pandemic. On-trade sales, despite returning to a high rate of growth and benefiting from consumer enthusiasm to socialise once more, failed to reach 2019 volumes for some categories.
In 2022 the Honduran economy grew by around 4%, driven by an improvement in external demand and internal consumption, which has been positively impacted by the increase in remittances, which grew by 17.8%, compared to 2021.
In 2022, unemployment remained a major concern, standing at 8%, which was still above pre-pandemic levels. Inflation was also another issue that impacted consumption during 2022, closing at 9% and forcing Hondurans to be cautious in their spending in order to cover basic pantry products.
Honduras benefits from a well-developed road infrastructure linking the major cities and from strong spending on roads, including recent financing from the Inter-American Development Bank to modernise the country’s main roads. The distribution of fast-moving consumer goods in rural areas can however be problematic, particularly given the frequent flooding in some areas, although the leading players in the alcoholic drinks industry have reported no significant distribution problems as a result of poor roads.
For 2022, there were no significant changes in legislation.
In March 2022, the government issued the Acuerdo 172-2022, that increased taxes for alcoholic drinks, domestic and imported, by 5.32%, that is the increase in Consumer Price Index in 2021.
The outlook for alcoholic drinks is optimistic, for retail and on-trade channels. Despite on-trade sales anticipated to see higher rates, full recovery is not expected until 2024, with some categories recovering faster than others.
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Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.See All of Our Definitions
This report originates from Passport, our Alcoholic Drinks research and analysis database.
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