CHICAGO, Sept. 13, 2012 /PRNewswire/ -- It's official, vaping is not a passing fad. Recent industry analysis has indicated that more and more people are trying – and liking – electronic cigarettes. The word is spreading, and the momentum is building. Approximately two and a half million people are now enjoying this smokeless alternative regularly, with their ranks growing all the time, according to a recent survey by Wells Fargo Securities.
Recent estimates put the value of the e-cig industry at $300 million. That's pretty solid evidence this is now an established industry, not a fly by night, passing fad. The Wells Fargo Securities research showed that many experts anticipate the trend to grow by up to 40% annually, leading to the industry hitting the one billion dollar mark in the next few years.
"The growth has been tremendous," said Chad Maynard, spokesperson for ElectronicCigarette.net. "We are seeing new visitors to our website all the time looking for more information. We fully believe this is here to stay, and while there may be some restrictions in the pipeline, the amount of support for these devices means they aren't going to go away."
The survey also tips NJOY and Blu brands as early leaders in sales and popularity. While online sales are brisk and expected to grow, the convenience store currently seems to be the most popular place to buy e-cigs.
Are There Bumps in the Road Ahead?
The industry has seen some saber rattling about regulations and restrictions. It is generally understood that those who enjoy vaping should buy a lot of gum before taking a flight because the airlines are on the frontlines to restrict use. State and federal regulations for bars and restaurants are still evolving, so users should proceed with caution and always confirm it is okay to use an electronic cigarette when out for dinner or a drink.
"Regulation is definitely going to be an area to watch closely," Maynard said. "There is a lot of concern afoot, and people seem to expect some degree of regulation."
Although many people turn to vaping when they are quitting smoking traditional tobacco cigarettes, the e-cig is not a smoking cessation device, and that is why this option has not been tested or regulated by the Food and Drug Administration to date. But that could change as the market grows and attracts more attention. Only time will tell.
ElectronicCigarette.net is a website featuring reviews of most e-cigarette brands. Users are encouraged to post their observations so readers can learn from each other and discuss the pros and cons of different brands.
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