In the latest electronic cigarette news, e-cigarette sales are expected to rise by 24.2% per year in the United States.
The sale of electronic cigarettes in the United States, right now estimated to be at $1.5 billion, is expected to grow 24.2 per year through 2018 – according to new projections from research and markets.
The number of traditional cigarettes sold in the United States has fallen 29.6 percent since 2004, according to Euromonitor International data. That is partly the result of education campaigns and countless bans on smoking in public places in towns and cities nationwide. In contrast, some on Wall Street expect e-cigs to surpass the tobacco cigarette market within 10 years. Big tobacco companies have jumped in in the last couple of years, looking for a new source of growth. Lorillard LO -1.00% bought the market-leading blu e-cigarette brand in 2012, and then, last October, bought SKYCIG, a U.K.-based e-cig business. Reynolds American RAI 0.59% last year introduced its VUSE digital vapor cigarettes in Colorado and is rolling the product out nationwide in 2014. Altria MO 0.57% started selling its MarkTen e-cigs in Indiana last year and is introducing it to additional states this year.