£1bn turnover for New Covent Garden Market

By the Editorial Team · Thursday, July 16, 2026

New Covent Garden Market has surpassed £1 billion in turnover for the first time, achieving £1.079 billion in revenue for the 2025-26 period, up 15.5 percent from the previous year. This growth supports the ongoing £150 million regeneration project designed to modernize the market and secure its role as a major supplier to over 40 percent of London’s hospitality sector.

New Covent Garden Market (NCGM) has reported a turnover exceeding £1 billion for the first time, marking a significant financial milestone. This achievement reflects a 15.5 percent increase from the previous year, with total revenue rising to £1.079 billion in the 2025-26 financial period, compared to £934 million in 2024-25, according to figures released by the Covent Garden Market Authority, the market’s landlord.

As the United Kingdom’s largest wholesale fruit, vegetable, and flower market, NCGM plays a critical role in the city’s food supply chain, providing over 40 percent of London’s restaurants, hotels, and caterers with fresh produce and floral products. The market hosts around 130 businesses operating within its premises.

This financial growth comes amid an ongoing £150 million regeneration project aimed at modernizing the site’s infrastructure and enhancing facilities for traders and customers alike. The investment is expected to support the market's long-term viability and maintain its status as a key wholesale hub in London.

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