(CNBC) – This past year was all about the “vape.” But the trend in which smokers inhale vapor from tobacco, marijuana and other nontobacco-based liquids is gaining even more followers among smokers and nonsmokers.
This year, the retail vaping industry is forecast to reach $3.5 billion, more than twice the $1.7 billion estimate for 2013, according to Bonnie Herzog, Wells Fargo Securities’ senior tobacco and beverage analyst.
And even though regulatory hurdles remain, curious consumers are pushing vaping’s growth.
Vaping involves inhaling water vapor through a personal vaporizer or electronic cigarette. When users draw on the device, its battery heats the liquid, which is then atomized into an inhalable vapor.