In 2023, beauty and personal care in Honduras continued to recover from the impact recorded in previous years of the pandemic. However rising inflation, exacerbated by the market’s high dependence on imports, and high unemployment led to consumer price sensitivity and acted as a drag on value sales.
Recovery of beauty and personal care in 2023 was more dynamic in value than volume sales due to accumulated price increases in the last two years of the review period. Hondurans showed marked differences in purchasing power, reflected in the growing polarisation of packaging sizes.
The Honduran economy showed moderate growth in 2023, according to figures from the Honduran Central Bank (BCH), GDP showed growth close to 3%. Unemployment, informality and poverty continue to be structural problems facing the country.
The country shows one of the highest poverty rates in the region. By 2023, it was estimated that close to 24% of the population lived below the international poverty line (USD3.
Honduras offers several options for the import and export of goods as it has seaports in both northern and southern regions of the country, with access to both the Atlantic and Pacific Oceans. Conveniently, the country’s larger cities offer numerous options for the storage and distribution of imported goods.
From 2024 and for the remainder of the forecast period, sales of beauty and personal care products are projected to see sustained although moderate growth, mainly due to the high levels of poverty that the country still shows, a situation that is not expected to improve noticeably in the short term. For the vast majority of Hondurans, the use of beauty and personal care products is expected to continue being part of their daily routine, although due to income limitations, savings formats and cheaper brands are expected to continue to be highly relevant.
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Beauty and Personal Care
This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Black market sales and travel retail are excluded.
See All of Our DefinitionsThis report originates from Passport, our Beauty and Personal Care research and analysis database.
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