The social business sector in Wales is worth £2.37bn to the Welsh economy and is supporting about 40,800 jobs, according to data published on Monday.
The report, Mapping the Social Business Sector in Wales, identified 1,698 organisations operating in the social business sector in Wales.
This includes co-operatives, mutuals, social enterprises and employee-owned businesses.
It is based on a survey of 810 organisations – 48% of the sector.
Derek Walker, chief executive of the Wales Co-operative Centre, said more cases were being made for public sector services to be delivered by social enterprises.