Kate Middleton, the Princess of Wales who is poised to be the United Kingdom's next queen by virtue of her marriage to Prince William, the heir to the throne of King Charles III, is already a hugely influential member of the British Royal Family.

Kate's societal influence will likely grow even more amid reports that Charles will soon bestow upon her the right to grant Royal Warrants, People magazine reported.

The special warrants are issued to businesses favored by members of the royal family, and Kate will be the first Princess of Wales to hold the power to grant such warrants in more than a century.

Royal Warrants

The U.K.'s The Times was the first to report earlier this month that King Charles III was planning on extending to Princess Kate the power to grant Royal Warrants, in recognition of the considerable sway she already holds over the British people and other subjects of the kingdom.

Per the Royal Family's website, Royal Warrants have been in use for centuries by certain members of the family, as selected by the king, to show favor to particular companies or skilled trades that provide goods and services to the royals.

The warrants, which are both renewable and cancelable at any time, are good for up to five years and allow the recipients to display the family's Royal Arms in advertising and on product packaging to promote their association with the Royal Family as a member of the prestigious Royal Warrant Holders Association.

Princess Kate's broad influence

Per The Times, it is unclear when King Charles III will formally delegate the Royal Warrant power to Princess Kate, but she is said to be "keen to recognize British skills and industry," including several British fashion designers, handbag makers, and jewelers that she prefers and has worn over the years.

Nicola Pink, a PR and marketing firm founder, told The Times, "We’ve seen the Princess of Wales have a huge impact on brands, often referred to as 'the Kate effect.' What makes it so powerful is that it has always felt genuine -- she chooses brands she truly likes or wants to support."

That "Kate effect" is estimated to have spurred more than $1 billion in consumer spending as people try to buy for themselves what the princess or her children are seen wearing, but some believe her large and growing influence could be worth considerably more in the coming years and decades.

Royal Family expert Hilary Fordwich told Fox News that the king's extension of royal warrant powers to the "beloved" princess and future queen "signals King Charles III’s faith in Catherine. She’ll have increasing influence as she is being groomed for such responsibilities. This is due to her poise, intelligence, tact, and reliability as he is gradually delegating responsibilities to the next generation."

"For the businesses that meet Kate’s high standards, it will be a mark of recognition which would carry significant branding weight in the fashion world and cachet in the retail world," she further explained. "To date, she has had a sensational impact on sales as her endorsements by using a product or outfit have already purportedly been valued at approximately £4 billion, or almost $5 billion to the British fashion industry. Her wardrobe choices result in an immediate sales surge."

A "smart move" by the king that may help boost the British economy

"King Charles is extremely fond of his loving and resilient daughter-in-law," Helena Chard, a British broadcaster and photographer, told Fox News. "He holds her in high esteem. I’m sure he will be honored to implement a major royal first."

"It would be a smart move by King Charles III to offer the role of grantor of royal warrants to none other than our 'gem in the monarchy’s crown,'" she continued and further stated that Kate would likely grant the special warrants to "meaningful businesses close to her heart."

"The Princess of Wales embodies positivity and hope. People will feel genuinely thrilled and privileged to buy into her special 'Brand Britain' chosen products," Chard added. "They will somehow feel connected to her through her favorite brands and happy that they are doing their bit to help grow our struggling economy. You'll see the positive knock-on effect. It's a win-win situation."