The combined turnover of New Covent Garden Market’s 130 businesses surpassed £1bn at a time when the wholesale market is undergoing a £150m regeneration project.
This figure for the 2025-26 financial year is up 15.5% from £934m in 2024-25, according to figures released by the market’s landlord, Covent Garden Market Authority (CGMA).
New Covent Garden Market, based in Nine Elms since 1974, serves as the UK’s largest wholesale fruit, vegetable, and flower market, supplying over 40% of London’s restaurants, hotels, and caterers.
Read more: New Covent Garden Market named best UK wholesale market
Wanda Goldwag OBE, Chair of NCGM landlord Covent Garden Market Authority, commented: “Reaching over £1 billion in turnover is a testament to the strength and reach of New Covent Garden Market and the people who make it what it is.
“Our wholesalers demonstrate extraordinary resilience, skill and dedication every single day, keeping London, the Southeast and beyond supplied with the freshest produce and flowers. This milestone is not just about scale, but about the continued importance of wholesale markets in a modern, dynamic food system.
“Everyone at New Covent Garden Market remains committed to supporting fellow traders, customers and supply partners, ensuring this market continues to play a central role in serving the UK for generations to come.”
