After strong growth in 2019 in alcoholic drinks due to expanding local production capacity and marketing for domestic brands, sales plummeted in 2020, especially in the on-trade due to the onset of COVID-19. By 2021, demand witnessed a resurgence as society slowly reopened after lockdown.
In 2021, recovery in the sales of alcoholic drinks surpassed expectations. Consumers sought to make up for lost time spent in lockdown and home seclusion and met up with their family and friends again.
During 2021 the pace of vaccination in Honduras was slow compared to other Central American countries, with only 43% of the population being fully vaccinated. Nevertheless, in terms of the economy, there was some recovery with real GDP growth reaching 11% in 2021.
Despite the economic recovery in 2021, unemployment remained a major concern. This led to cautious consumer spending and demand for alternatives that maximise household budgets.
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 2021, there were no significant changes in legislation, with COVID-19 related measures lifted.
In March 2021, the government issued the Acuerdo 199-2021, that increased taxes for alcoholic drinks, domestic and imported, by 4.01%, that is the increase in Consumer Price Index in 2020.
The prospects for sales of alcoholic drinks are positive, both in the off- and on-trade channels over the forecast period. Although the pandemic created a situation in which people were forced to celebrate special occasions at home, while this proved sticky to a degree, most preferred to celebrate outside as COVID-19 restrictions began to ease.
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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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