Cooking ingredients and meals saw value growth across the market in 2022 due to rising prices while the volume sales of meals and soups and sauces, dips and condiments contracted. The market continued to adjust in the wake of the COVID-19 pandemic with the return of children and students to schools and universities leading to a decline in cooking at home, while recession, rising unemployment and inflation and a contraction in the middle class led to a trading down in consumer buying habits.
The market for cooking ingredients and meals in 2022 in Honduras experienced growth in value terms while several categories contracted in volume terms as the category experienced growing inflation. Honduras relies heavily on imports to supply the domestic demand for packaged foods, therefore increases in the unit prices of products in their countries of origin were also reflected in the local market.
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.
Although there are some rural areas to which access is a little more complex, generally a wide variety of products are available nationwide. However, in some urban areas, there are neighbourhoods that are controlled by maras (gangs) who make the distributors pay a "war tax" in order to distribute their goods to stores.
The majority of cooking ingredients and meals categories are set to register positive growth in value sales over the forecast period, with only moderate growth in volume sales. Lower socioeconomic groups, however, are likely to continue struggling to afford these products given the high poverty levels in the country, which could limit their food choices to unpackaged foods such as grains and vegetables.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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