The next time someone asks for a particular brand of soup or toothpaste at Dev's shop in Coronation Street, then make a note; it could be the first example of product placement on British television, as rules are swept away by media regulator Ofcom next week.

ITV is hoping to earn tens of millions of pounds from the likes of Heinz or Colgate next year, after the long standing ban on product placement on commercial television is lifted. The move follows years of lobbying from the industry, with ITV taking a leading role.

The commercial broadcaster is coy about its immediate plans, and concerned not to frighten viewers by saturating its programmes with branded goods, but ITV will focus on introducing products into its soaps and daytime output first.

Product placement company MirriAd said that in the US and other markets where the practice is well-established, product placement typically accounts for 5% of total TV advertising revenue. That would make the UK market worth £150m a year initially, although MirriAd argues it will grow rapidly.

But the plan to relax the rules remains controversial. Jocelyn Hay, the president of the Voice of the Listener and Viewer, said her group was "concerned about the integrity of television programmes," adding, "advertising is transparent - you can't be sure that product placement has not had an influence on the story line".

Product placement has long been legal in the United States and a staple of programmes such as Sex And The City, where the references to Manolo Blahniks are so frequent that the killer heels are effectively a character in the show. Simon Cowell used to drink from a Coca-Cola branded glass when he was a judge on American Idol.

However, with concerns about the US experience uppermost, Ofcom has tried to leave certain restrictions in place. The rules set out in a new edition of the broadcasting code that is enforced by Ofcom, are expected to prohibit plugging products in too obvious a fashion.

Draft rules published by Ofcom in June made it clear broadcasters will be barred from giving fizzy drinks or any other product "undue prominence". Ofcom has been consulting the industry for nearly six months but it is unlikely the final rules will differ substantially from those outlined in the summer.

The regulator will also insist that products shot on screen are "editorially justified", which may make it easier for dramas to capitalise on the new regime than it will be for reality TV shows. "In drama you can absolutely see how it can work", said an industry source. "But it is going to take a lot of work to figure out how to implement it into the schedule."

Viewers will be alerted when product placement is being used. The new rules will require broadcasters to alert viewers at the start and the end of shows which feature product placement, probably by using a symbol that appears briefly in the corner of screens. They may also be forced to list the names of the products featured in the show in the end credits.

A long list of goods and services, including tobacco and alcohol will be prevented from taking advantage of the more liberal regime, thereby safeguarding the future of Newton & Ridley beer in Coronation Street's Rovers Return.

Foods that are high in salt or sugar will be barred. That means that a fast food chain such as McDonald's will not be able to pay to place a hamburger in the hands of an Emmerdale character, for example, despite the fact it can advertise before, during or after the show.

However, the picture is complicated because some brands of cereal fall into that category – because they have a high sugar content – and will not be allowed to pay to be incorporated into soap operas or crime dramas.

Although it has lobbied for product placement to be allowed, ITV has played down the amount of money it will make and industry sources say the figure could be as little as £1m in 2011.

The changes will not come into effect until next year and the fact that it takes many months to produce most shows, particularly dramas, means change are unlikely to be seen on screen until 2012.