One Direction and Ed Sheeran led a record 2014 for British artists, who notched up five of the top 10 best-selling albums worldwide.

Other UK acts in the list of the most successful recording artists in the world last year include Coldplay, Pink Floyd and Sam Smith.

It was also a year that saw music go back to the future, with vinyl at a 20-year high in the UK with 1.3m sales, led by Pink Floyd’s The Endless River and Arctic Monkeys’ AM.

Globally, British acts accounted for more than one in seven albums sold worldwide in 2014, a record 13.7% of the global market.

One Direction’s Four was the biggest-selling album by a UK artist in terms of sales of albums, tracks and streams from services such as Spotify, ranking second to Taylor Swift’s 1989.

Ed Sheeran’s X ranked third globally, Coldplay’s Ghost Stories managed fourth and Sam Smith’s In The Lonely Hour took eighth.

“The popularity of British music at home and abroad is, appropriately, only going in ‘One Direction’,” said business secretary Sajid Javid. “These record figures are fantastic news and show the enormous demand for UK music all around the world.”

UK albums and singles generated approximately $2.75bn in global sales last year.

It was a record year for British acts at home, too, with the share of total album sales going to UK talent at a 17-year high.

“UK artists and labels dominated sales at home like never before, releasing all of the top 10 best-selling artist albums of 2014,” said Geoff Taylor, chief executive of music industry body BPI.

Taylor said that the slide in British CD sales, precipitated by the rise of illegal downloads and digital sales and streaming, appeared to be slowing.

CD album sales fell 7.9% last year, having seen falls of 19.5% in 2012, and 12.8% in 2013.

The huge popularity of music streaming shows no sign of slowing, with the BPI estimating that a quarter of adults used a service such Spotify, Deezer, Google Play and Rdio last year.

The number of tracks played on audio services doubled to 14.8bn, with 73 played more than 10m times. In 2013, just seven tracks topped the 10m mark.

While 26.8% of adults used a streaming service last year, only one in 16 used a paid-for tier offered by a provider.