NEW YORK CITY – Sales of electronic cigarettes should soon arrive at $1 billion, or around 1% of traditional cigarette sales, according to analysts at Wells Fargo, ABC New reports. In 2012, e-cigarettes registered $500 million in sales.
The number of adult smokers who have tried e-cigarettes rose from 10% in 2010 to around 21% in 2011, according to the Centers For Disease Control and Prevention. “Overall, about 6% of all adults have tried e-cigarettes, with estimates nearly doubling from 2010,” the CDC said of its February 2013 survey.
“E-cigarette use is growing rapidly,” said CDC director Tom Frieden. “There is still we do not know about these products.”
The growing popularity of e-cigarettes have attracted investors, as well as traditional tobacco companies. Eli Alelov, CEO of LOGIC Technology, which makes LOGIC e-cigarettes, said e-cigarettes will grab 30% to 40$ of traditional smokers within five years.