Elfbar and Lost Mary have emerged as major players in the vaping industry, having collectively sold over £900 million worth of vape products in just a span of twelve months. This staggering figure accounts for more than 160 million units sold, as reported by NielsenIQ.
However, it is important to note that NielsenIQ’s data only encompasses a portion of the entire market. Their numbers exclude numerous vape shops, online retailers, and convenience stores, which means the actual sales figures could be significantly higher. In fact, it is estimated that the true value of vape sales could be double the reported amount.
Elfbar and Lost Mary’s impressive sales performance is a testament to their strong presence and popularity among consumers. With their combined success, they have firmly established themselves as leading brands in the competitive vape industry.
The exponential growth of the vaping market is undeniable, as evidenced by the sheer volume of units sold. Vaping has become a preferred alternative for many individuals looking to reduce or quit smoking, thanks to its perceived lower health risks and various flavor options.
While NielsenIQ’s data provides valuable insights into the market, it is crucial to take into account the unaccounted sales channels. Vape shops, online retailers, and convenience stores play a significant role in meeting the demands of consumers and driving the overall industry revenue.
The vape industry’s potential for growth and profitability is vast, considering the untapped market share not captured by NielsenIQ’s data. As the industry continues to evolve, it will be interesting to see how Elfbar, Lost Mary, and other prominent brands adapt to meet the ever-changing demands and preferences of consumers.