Hot drinks saw a contraction in retail volume sales in 2023. Moreover, despite some recovery, foodservice failed to reach pre-pandemic levels.
The hot drinks market in Honduras contracted in 2023 in retail volume sales. Among the incidence factors that led to this decrease in demand was the fact that consumers continued to normalise activities outside the home, given that the fear of COVID-19 contagion was no longer relevant for the majority of the population.
Coffee is by far the most popular hot drink in the country at every socioeconomic level. Honduras is a highly regarded coffee producer as coffee has been cultivated in the country for almost two centuries, is widely available and retails at affordable prices.
The country’s economy remained one of the weakest in Central America while inflation is projected to reach 7% at the end of 2023. Although increases in private and public investment are helping to create some positive momentum, presidential elections and instability are proving hindrances, as are inadequate infrastructure, high crime rates and a large informal economy.
Moving goods is relatively easy across the country, as roads are generally good and when needed, refrigerated units move products. However, despite strong spending on roads, rural roads can be poor, particularly given frequent flooding in the country, making it challenging to reach some small communities.
Over the forecast period, retail volume sales of coffee are expected to continue growing steadily, albeit moderately, given that the category already benefits from wide penetration in the market. Coffee is ingrained in the country’s culture thanks to its extensive local production and its regular consumption among a large percentage of the population regardless of demographic group.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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