The Soap (Except Solid Soap) market in Honduras reached a value of $12.09 million in 2023, underlining a steady growth pattern. Year-on-year analysis shows moderate positive growth in recent years, each year seeing an increase around 2-3%, barring the two exceptional years 2015 and 2021, that saw higher growth rates of over 7% and 24%, respectively. Over the last five years, the market achieved a Compound Annual Growth Rate (CAGR) of 2.42%, indicating a stable upward trend.
Looking forward, key trends to monitor include:
- The impact of increased consumer awareness towards liquid and other non-solid soaps for hygiene, particularly driven by health trends.
- Potential fluctuations in market demand influenced by economic factors and changes in consumer purchasing power.
- Expansion opportunities in eco-friendly and specialty product segments, which are growing in popularity globally.
