Global Tobacco Heating Product (THP) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031
Description
According to our (Global Info Research) latest study, the global Tobacco Heating Product (THP) market size was valued at US$ 23180 million in 2024 and is forecast to a readjusted size of USD 97560 million by 2031 with a CAGR of 23.0% during review period.
Tobacco heating products (THP) are a new type of tobacco product that releases nicotine and flavor ingredients by heating rather than burning tobacco. They are considered to be an intermediate form between traditional cigarettes and e-cigarettes.
At present, the major players of Tobacco Heating Product (THP) in the world include: Philip Morris International, Japan Tobacco International, British American Tobacco, Imperial Brands, KT&G, Pax Labs, etc. among them Philip Morris International is the world’s largest Tobacco Heated Products manufacturer, its revenue market share is about 76%. There are companies adding new capacities and aims at the cost and quality leadership which shall improve profitability. As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality.
In consumption market, Asia Pacific is the mainly consumption regions. APAC occupied 56% of the global consumption revenue in total.
Tobacco Heating Products (THP) are mainly sold Offline or Online. In Tobacco Heated Products market, Offline stores holds an important share in terms of Application.
Market drivers
Increased health awareness drives consumer transformation
Growing demand for harm reduction: Traditional tobacco combustion produces more than 7,000 harmful substances, while tobacco heating products (THP) reduce the release of 90%-95% of harmful substances by heating tobacco to 300-350°C (lower than the combustion temperature), attracting consumers with enhanced health awareness.
Influence of policy orientation: Global tobacco control policies are becoming stricter. For example, the EU Tobacco Products Directive strictly restricts traditional tobacco advertising and packaging, but relatively loose regulation of tobacco heating products (THP), which drives consumers to turn to alternative products.
Technological innovation improves user experience
Upgrade of heating technology: From resistance wire heating to light heating, microwave heating and other technologies, improve heating efficiency and temperature control accuracy, and optimize taste consistency.
Product diversification: Tobacco giants have launched multiple flavors (such as mint and fruit) and "low-temperature herbal" products without tobacco substrates to expand non-smoker users.
Intelligent equipment: Bluetooth connection, APP temperature control and other functions enhance interactivity, such as IQOS ILUMA supports touch screen operation and smoking data tracking.
Regulatory policies create market space
Differentiated regulation: Some countries include tobacco heating products (THP) in tobacco product regulation, but allow their use in specific places. For example, Japan allows tobacco heating products (THP) to be used in public places, while traditional tobacco is restricted.
Tax advantages: The tax burden of tobacco heating products (THP) is often lower than that of traditional tobacco. For example, the tax rate of tobacco heating products (THP) in South Korea is about 50% of that of traditional tobacco, which improves price competitiveness.
This report is a detailed and comprehensive analysis for global Tobacco Heating Product (THP) market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Tobacco Heating Product (THP) market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Tobacco Heating Product (THP) market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Tobacco Heating Product (THP) market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Tobacco Heating Product (THP) market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Tobacco Heating Product (THP)
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Tobacco Heating Product (THP) market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Philip Morris International, Japan Tobacco International, British American Tobacco, Imperial Brands, KT&G, Pax Labs, Shenzhen Royal Tobacco Industrial, Buddy Technology Development, Shanghai Shunho New Materials, First Union, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Tobacco Heating Product (THP) market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Tobacco Stick
Loose-leaf
Market segment by Application
Offline Sales
Online Sales
Major players covered
Philip Morris International
Japan Tobacco International
British American Tobacco
Imperial Brands
KT&G
Pax Labs
Shenzhen Royal Tobacco Industrial
Buddy Technology Development
Shanghai Shunho New Materials
First Union
Mysmok Electronic Technology
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Tobacco Heating Product (THP) product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Tobacco Heating Product (THP), with price, sales quantity, revenue, and global market share of Tobacco Heating Product (THP) from 2020 to 2025.
Chapter 3, the Tobacco Heating Product (THP) competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Tobacco Heating Product (THP) breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Tobacco Heating Product (THP) market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Tobacco Heating Product (THP).
Chapter 14 and 15, to describe Tobacco Heating Product (THP) sales channel, distributors, customers, research findings and conclusion.
Tobacco heating products (THP) are a new type of tobacco product that releases nicotine and flavor ingredients by heating rather than burning tobacco. They are considered to be an intermediate form between traditional cigarettes and e-cigarettes.
At present, the major players of Tobacco Heating Product (THP) in the world include: Philip Morris International, Japan Tobacco International, British American Tobacco, Imperial Brands, KT&G, Pax Labs, etc. among them Philip Morris International is the world’s largest Tobacco Heated Products manufacturer, its revenue market share is about 76%. There are companies adding new capacities and aims at the cost and quality leadership which shall improve profitability. As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality.
In consumption market, Asia Pacific is the mainly consumption regions. APAC occupied 56% of the global consumption revenue in total.
Tobacco Heating Products (THP) are mainly sold Offline or Online. In Tobacco Heated Products market, Offline stores holds an important share in terms of Application.
Market drivers
Increased health awareness drives consumer transformation
Growing demand for harm reduction: Traditional tobacco combustion produces more than 7,000 harmful substances, while tobacco heating products (THP) reduce the release of 90%-95% of harmful substances by heating tobacco to 300-350°C (lower than the combustion temperature), attracting consumers with enhanced health awareness.
Influence of policy orientation: Global tobacco control policies are becoming stricter. For example, the EU Tobacco Products Directive strictly restricts traditional tobacco advertising and packaging, but relatively loose regulation of tobacco heating products (THP), which drives consumers to turn to alternative products.
Technological innovation improves user experience
Upgrade of heating technology: From resistance wire heating to light heating, microwave heating and other technologies, improve heating efficiency and temperature control accuracy, and optimize taste consistency.
Product diversification: Tobacco giants have launched multiple flavors (such as mint and fruit) and "low-temperature herbal" products without tobacco substrates to expand non-smoker users.
Intelligent equipment: Bluetooth connection, APP temperature control and other functions enhance interactivity, such as IQOS ILUMA supports touch screen operation and smoking data tracking.
Regulatory policies create market space
Differentiated regulation: Some countries include tobacco heating products (THP) in tobacco product regulation, but allow their use in specific places. For example, Japan allows tobacco heating products (THP) to be used in public places, while traditional tobacco is restricted.
Tax advantages: The tax burden of tobacco heating products (THP) is often lower than that of traditional tobacco. For example, the tax rate of tobacco heating products (THP) in South Korea is about 50% of that of traditional tobacco, which improves price competitiveness.
This report is a detailed and comprehensive analysis for global Tobacco Heating Product (THP) market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Tobacco Heating Product (THP) market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Tobacco Heating Product (THP) market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Tobacco Heating Product (THP) market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Tobacco Heating Product (THP) market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Tobacco Heating Product (THP)
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Tobacco Heating Product (THP) market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Philip Morris International, Japan Tobacco International, British American Tobacco, Imperial Brands, KT&G, Pax Labs, Shenzhen Royal Tobacco Industrial, Buddy Technology Development, Shanghai Shunho New Materials, First Union, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Tobacco Heating Product (THP) market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Tobacco Stick
Loose-leaf
Market segment by Application
Offline Sales
Online Sales
Major players covered
Philip Morris International
Japan Tobacco International
British American Tobacco
Imperial Brands
KT&G
Pax Labs
Shenzhen Royal Tobacco Industrial
Buddy Technology Development
Shanghai Shunho New Materials
First Union
Mysmok Electronic Technology
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Tobacco Heating Product (THP) product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Tobacco Heating Product (THP), with price, sales quantity, revenue, and global market share of Tobacco Heating Product (THP) from 2020 to 2025.
Chapter 3, the Tobacco Heating Product (THP) competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Tobacco Heating Product (THP) breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Tobacco Heating Product (THP) market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Tobacco Heating Product (THP).
Chapter 14 and 15, to describe Tobacco Heating Product (THP) sales channel, distributors, customers, research findings and conclusion.
Table of Contents
111 Pages
- 1 Market Overview
- 2 Manufacturers Profiles
- 3 Competitive Environment: Tobacco Heating Product (THP) by Manufacturer
- 4 Consumption Analysis by Region
- 5 Market Segment by Type
- 6 Market Segment by Application
- 7 North America
- 8 Europe
- 9 Asia-Pacific
- 10 South America
- 11 Middle East & Africa
- 12 Market Dynamics
- 13 Raw Material and Industry Chain
- 14 Shipments by Distribution Channel
- 15 Research Findings and Conclusion
- 16 Appendix
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