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
"Thank you for the opportunity to comment on this Jo, and PrintWeek!
Please feel free to get in touch with the Howden Print Team to arrange your own Free of Charge Cyber Micro-Penetration Test to help..."
"I never quite understand the statements such as "achieved such a positive outcome for this well-established business".
The established business unfortunately failed and no longer exists, a..."
"Genuinely sorry to read this."
Up next...

Commitment, presence and energy will be much missed
Tributes paid to Lascelle Barrow

Around 300 roles may be affected
International Paper to close five UK packaging sites

Asset ownership delayed process
Reflections to be liquidated

'Start of a new era'