New government report highlights independent SMEs helping NCGM supply London’s hospitality, catering and wider food sector
A new government report has highlighted the crucial role of New Covent Garden Market (NCGM) in supporting London’s hospitality, catering and independent retail sectors.
The research, commissioned by Defra, draws upon data drawn from interviews with 114 tenants, suppliers, customers and industry stakeholders.
While the market is renowned for supplying some of London’s high-end commercial dining establishments, the report highlights its wider role in supporting specialist distributors and contract caterers serving public sector institutions, such as schools, hospitals, prisons and care homes.
The report found NCGM’s wholesalers and suppliers are particularly well-placed to meet the needs of bulk buyers requiring short lead times.
It also underlined the market’s strong independent business base. It found some 75 per cent of tenant businesses on the estate employ 20 or fewer people, with Small and Medium-sized Enterprises (SMEs), driving a significant proportion of the market’s 2,600 strong workforce.
The report comes as NCGM surpassed a record-breaking £1 billion turnover in July this year, as combined turnover of the 130 businesses trading at the market rose 15.5 per cent from the previous year.
Wanda Goldwag, chair of the Covent Garden Market Authority, said: “We are extremely grateful to Defra for commissioning this extensive research. It captures a profound truth: the independent traders at New Covent Garden Market are the beating heart of fresh in London and the South East.
“From providing nutritious food to hospital wards and local communities, to supplying world-class dining establishments, their hard work sustains this region,” she added.
The report also recognised NCGM’s contribution to tackling food insecurity through its partnership with food redistribution charity City Harvest, which rescues 7.8 tonnes of fresh fruit and vegetables weekly to help feed approximately 130, 000 low-income Londoners.
The market is also home to Mission Kitchen, a GLA-backed initiative supporting the development of food businesses and culinary talent. Since launching in 2021, the initiative has supported over 300 food start-ups and provided training to more than 100 learners.
NCGM is the UK’s largest wholesale fresh produce and flower market, home to a range of independent businesses that supply London’s hospitality, catering and independent retail sectors.
The market is estimated to account for approximately 16 per cent of all fresh food purchased by the capital’s restaurants, hotels and caterers, making up an important part of London’s hospitality sector.
The market is currently overseeing a £150 million regeneration project, due to complete in 2027. The fourth phase of the development was completed this year with the new consolidated Buyer’s Walk opening in January 2026.
