The global market for e-cigarettes and e-liquids almost doubled, to $6 billion, from 2013 to 2014, a new report finds. During that same period, cigarette sales decreased 0.4 percent, according to CBS News.
The report on e-cigarettes and e-liquids was issued by the market research firm Euromonitor International. The United States, with $2.8 billion in sales last year, accounts for about half of all global sales. Demand for e-cigarettes is also strong in Europe, especially the United Kingdom, Italy, Poland and France.
Shane MacGuill, a tobacco analyst at Euromonitor, says the growth in e-cigarettes is partly fueled by the perception that they are healthier than traditional cigarettes. Because they are not yet taxed at the same high rate as cigarettes, they are significantly less expensive, he added.