New Covent Garden Market (NCGM) has achieved a landmark moment, recording an annual turnover exceeding £1 billion for the first time.

Combined turnover of the 130 businesses trading at the Market rose to £1.079bn in the 2025-26 financial year, up 15.5% from £934m in 2024-25, according to figures in the annual Report and Accounts published by Covent Garden Market Authority (CGMA).

New Covent Garden Market has been trading from its Nine Elms home since 1974 (following centuries at old Covent Garden in London's West End) and serves as the UK's largest wholesale fruit, vegetable, and flower market, supplying over 40% of London’s restaurants, hotels, and caterers.

The Market is currently undertaking a £150 million regeneration project, due to complete in 2027, and is intended to help the estate continually adapt to changing supply chain pressures and evolving customer and consumer demands.

“Reaching more than £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," says Wanda Goldwag OBE, CGMA Chair. “Our wholesalers demonstrate extraordinary resilience, skill and dedication every single day, keeping London, the South-East 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."

Wanda adds: “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.”

Read the annual Reports and Accounts 2026 document here.