Beer saw moderate growth in total volume terms in 2023, with much stronger growth in total current value terms. The strong value growth was fuelled by inflationary pressures and an increase in unit prices rather than a significant increase in demand. Despite an almost complete recovery in domestic and inbound tourist numbers in Spain sales of beer through the on-trade remained below pre-pandemic levels in volume terms. In fact, on-trade volume sales fell for the first time since 2020 when severe restrictions were in place due to the pandemic. The decline in consumer purchasing power combined with a sharp rise in the cost of living had a big impact on consumer demand for beer, especially in the on-trade.