According to the Japan Times, prices have fallen this year and as a result, increasing numbers of manufacturers are choosing to enter the market.
Although the lights do not cost much, they can last for around 40 times longer than a normal incandescent bulb and use 90 per cent less electricity, the news provider continues.
Furthermore, they are now brighter than earlier models, making them more practical for everyday use.
Takahisa Uzumaki, senior manager at Toshiba Lighting and Technology, said: "We are swamped by orders and just can't keep pace with demand."
A shop assistant also told the publication that many people are purchasing the LED bulbs to see what all the fuss is about.
Meanwhile, the San Jose Mercury News recently reported that according to the US Department of Energy, LEDs could be the future of lighting.
