The contract publishing sector grew by 18% over the period despite a backdrop of falling advertising spending, poor financial performance and the effects of 11 September, it said.
The sector was valued last year at 313m, almost four times its worth in 1993 when the APA was established with 10 founding members.
The sector has also given the printing industry a major boost, with nine out of the top 10 ABC-audited magazines now customer titles. Nearly three-quarters of all customer magazines are mailed to recipients.
Market research company MINTEL predicts that the sector will increase by 8% year-on-year to be worth 461m by 2007.
The APA now has 29 UK, five overseas and 14 affiliate members.
By 2002, 79% of the UK population reported they had seen a customer magazine at some point.
APA director Hilary Weaver said: The driver for growth is accountability and customer magazines are highly effective at delivering against market objectives.
Story by Gordon Carson
Have your say in the Printweek Poll
Related stories
Latest comments
"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
"Not surprised, businesses need to prepare for these attacks rather than thinking that they're going to avoid them. At the very least, data needs to be fully protected with air gaps in place..."
"So much for growth then!"
Up next...
Six months after Charlesworth deal
TJ Books looks to appoint admins
Current timeframes are insufficient
Election print and postal pressures highlighted in AEA report
"Significant milestone"
Riso celebrates 20 years of inkjet
Strengthens existing product portfolio