Revenue from e-cigarettes are expected to double this year to over $1 billion and up to $1.7 billion by some estimates.
An estimated 43.8 million people, or 19 percent of all adults in the United States, smoke electronic cigarettes, according to the Centers for Disease Control.
Over 500,000 people in France use e-cigarettes daily. By mid-2013, there were one million e-cigarettes users in the U.K.
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“We have increased conviction that consumption of e-cigs could surpass consumption of conventional cigs within the next decade.”
Analyst Bonnie Herzog of Wells Fargo Securities
$2 billion had been spent on e-cigarettes globally in 2011, stating that the industry has seen “booming growth” in just a few years.