Research and Markets Forecasts 24% Annual Growth For E-Cigs Until 2018.
A market research outlet called Research and Markets has published a report claiming that it sees roughly 24% annual growth for the electronic cigarette market between now and 2018. This would be a bold claim for any product market — even new and disruptive ones like the e-cig market — but may actually be an underestimation of the growth ultimately seen.
Assuming guesstimates of last year’s U.S. e-cig numbers of $1.7 billion were correct, this would make the industry a $5 billion market come 2018. This is a step down from what many believe has been around 100% annual growth thus far. That doesn’t mean it’s wrong — just that, perhaps, the market is officially in need of more traditional means of support to see growth continue at such rates.
I’m not entirely convinced that that’s true. I already guessed that the U.S. industry will tip $3.5 billion this year alone and I’m waiting to see if that’s the case. This is closer to the rate that the industry will need to continue growing in order to make true the Wells Fargo forecast that the industry will overtake tobacco in 10 years.
Still, if the rate of growth falls short of this 24% to, say 10 or 15%, the e-cig industry will still be outperforming almost everything else out there.