Sales of dairy products and alternatives maintained steady growth in Honduras in 2023, benefiting from the return of parents to the workplace and children to their places of education and subsequent boost in impulse purchases. While the market benefits from growth of modern grocery retailers and urbanisation, considerable poverty means many struggle to afford these products.
In 2023, the dairy and alternatives market in Honduras showed moderate growth in retail volume sales and greater dynamism in value terms. The market continued to be affected by global inflationary pressures, mainly impacted in categories that are highly dependent on imports, such as milk formula, which continued to see price increases from origin given the volatility of raw material prices and increasing logistics and supply chain costs.
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.
In 2023, the economy projected a moderate GDP growth close to 3.5% according to the Honduran Central Bank, while the country’s inflation was 5%.
In 2023, supply chains returned to normal operations, after disruptions since the start of the pandemic and the war in Ukraine. However, inflationary pressure continued to affect imported brands.
Over the forecast period, sales of dairy products and alternatives are set to see sustained, though moderate growth in retail value terms. Several of the products, such as milk, cream and cheese are already highly incorporated into the eating habits of the majority of the Honduran population.
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Dairy Products and Alternatives
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