Looking at the Growth of the Electronic Cigarette Revolution
Wells Fargo Tobacco Talk Survey Offers a Look into the Projected Growth of the E-Cig Industry
There is little doubt – The e-cigarette revolution is among us! In just over a decade, these no offensive odor, no smoke devices have gone from novelty conversation pieces, to finding their way in the hands of millions of former tobacco users worldwide.
But just how much as the electronic cigarette industry grown? And where is it headed? Well, the folks from Wells Fargo Securities Tobacco Talk have conducted an extensive survey to answer this very question.
The Current State of the Electronic Cigarette Industry
Polling 30,000 retailers nationwide, the survey came away with some eye-opening statistics and projections about the strength of the electronic cigarette:
- $300 million in retail revenue and 2.5 million electronic cigarette users
- 73% of respondents said that electronic cigarettes are here to say
- 35% of surveyed participants project an annual growth rate of 40%
- blu E-cigs was cited as one of the top two emerging brands
So where are we headed?
This early success is just the beginning. The e-cigarette industry is strong (and only going to get stronger). Just look at some of the other key takeaways from the survey:
- Revenue expected to grow to over $1 billion within a few years
- Number of electronic cigarettes users to quadruple by 2014
- Big gains in retail shelf space
If you are interested in viewing the results of the survey in its entirety, you can find the Wells Fargo Securities Tobacco Talk survey here.