Consumer health in Honduras experienced a year of growth in value terms in 2023 that was in line with the country's inflation. Categories such as analgesics, cough, cold and allergy (hay fever) remedies, dermatologicals, and sports nutrition registered standout growth, although there were equally important declines in vitamins and dietary supplements and weight management and wellbeing.
In 2023, the consumer health industry in Honduras registered moderate growth, following a similar trend in the previous year. This moderate growth trend stemmed from contractions in categories such as vitamins and dietary supplements and weight management and wellbeing.
According to the World Bank Group, Honduras is the second poorest country in the hemisphere, second only to Haiti which is the only country with Least Developed Country (LDC) status in the hemisphere. Around 39% of Hondurans live on less than USD3.
The winner of the Presidential elections in 2021, President Xiomara Castro, represents the first woman to assume this high office in Honduras. Her party, the Partido Libertad y Refundación (LIBRE), is known to be more left leaning and she campaigned on different issues intended to help the Honduran people.
Honduras is fortunate in that it is geographically close to the US and goods can be shipped quickly. There is also a frequent schedule for containers arriving in the country, albeit at higher than usual rates due to current market conditions.
The General Medicines Law gives the State the power to put a maximum price on medicines. This law aims to regulate the production, development, trade and application of medications to ensure the availability, accessibility, quality, safety and efficacy of drugs, medicines and cosmetics for therapeutic use for the population.
There is no specific coverage in the General Medicines Law for vitamins and dietary supplements. As such, these products must adhere to the regulations used for OTC.
In 2023, factors such as inflation had a significant impact on the consumer health market with demand falling for categories such as vitamins and dietary supplements due to their non-essential nature. Moreover, no considerable growth in these categories is likely over the forecast period as the rollout of COVID-19 vaccinations negated consumer demand for consumption of vitamins specifically to boost immunity to COVID-19.
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Understand the latest market trends and future growth opportunities for the Consumer Health industry in Honduras with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
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It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and WellbeingSee All of Our Definitions
This report originates from Passport, our Consumer Health research and analysis database.
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