UK – The Farnborough-based service provider, Sourcing City’s Market Report 2024 that was presented in January 2025 summarises the current market figures of the promotional products industry in the United Kingdom and Ireland and gives an outlook of the possible market development.
According to the survey, the most important statistic is the 4.2% growth of the promotional products market which corresponds to 49.7 million British Pounds (approx. 59.38 million Euros). The turnover thus rose from 1.182 billion British Pounds (approx. 1.412 billion Euros) in 2023 up to 1.25 billion British Pounds (approx. 1.493 billion Euros) in 2024. Prior to COVID, in the year 2019, the volume of the market was approx. 1.17 billion Pounds (approx. 1.397 billion Euros), which means the market has in the meantime totally recovered and has experienced positive further development, according to Sourcing City.
David Long, CEO and Executive Chairman of Sourcing City and author of the survey, emphasised in the summary of the results that the leading sales and supplier companies of the industry have once again demonstrated their entrepreneurial spirit and thus pushed the positive development of the market forward. Furthermore, in the year 2024, the demand for promotional products had been boosted by two major international sporting events, the Olympic Games and the European Football Championships as well as by the parliamentary elections in the United Kingdom.
On the other hand the year had been marked by the change in government. At the end of 2024 a considerable and unexpected increase in the employer social security contributions and the resulting higher employment costs had triggered off deep concern. This was further aggravated by new product laws and the ongoing cost of living crisis, whereby the economic overall performance of the British industry fortunately defied the trend.
One concern for the year 2025 is the financial and political instability in the United Kingdom and worldwide, which according to Long, turns strategic planning into more of a guessing game than ever.
In addition to the current turnover figures, the survey that is in detail exclusively available to Sourcing City Purple Club members, also includes an analysis of the promotional products companies according to size and region as well as an overview of the product groups with the strongest turnover.
