June 17, 2022
Leading online vape platform IndeJuice has forecast a 320 per cent compound annual growth rate (CAGR) for the UK disposable vapes sector in 2022, after the company has witnessed a 279 per cent increase in sales in the final quarter of 2021.
The company said the forecast is based on its sales volume of disposable vapes in the first quarter of this year, which was equivalent to their total volume of disposable vape sales for the entirety of the 2021 calendar year.
However, chief executive George Muharib expressed concerns over the growing issue of counterfeits, non-compliant goods and potentially unsafe devices.
“The recent increase in demand for disposable vapes is a cause for celebration as it represents smokers making the switch to vaping. However, it is also a worry as we see more counterfeit and non-compliant goods flood the market,” Muharib said.
Citing their research, he noted that the brands Geek Bar and Elf Bar are particularly affected by the issue.
“Our research indicates that 1 in 3 of all Geek Bar products on the market today are counterfeit. This means that for Geek Bars alone, millions of counterfeit and unlicensed products are in circulation in the UK, presenting a huge challenge to the industry that we must tackle head-on,” he said.
“Elf Bars are also amongst the most counterfeited product on the market. Disposable vapes authorised for UK sale should not have a capacity of above 1,000 puffs as this is the technical and material limit within current UK regulations. Seeing Elf Bars with 1,500 puffs all the way up to 7,000 puffs being advertised so freely is extremely alarming.”
The company reaffirmed their commitment to work collaboratively with local authorities to ensure that these goods are removed from sale immediately, but expressed concerns about the urgency being apportioned to the task.
“We are very proud of our Prime Certification due diligence process that eliminates all counterfeit goods by only allowing the official producer of vape goods to sign up to our platform,” said CTO Hakeem Javaid.
“Now more than ever, powerful technology is the most effective way of eliminating unsafe goods whilst empowering smokers to quit for good by switching to vaping, as the NHS and Cancer Research UK recommend from their research studies.”
The company informed that it only allows the official brands to sell products through its platform, thus eliminating counterfeits and non-compliant products.