The global Tobacco Heating Product (THP) market size is predicted to grow from US$ 26830 million in 2025 to US$ 99430 million in 2031; it is expected to grow at a CAGR of 24.4% from 2025 to 2031.

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 worlds 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 300-350C (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.

Infinity Market Research newest research report, the Tobacco Heating Product (THP) Industry Forecast looks at past sales and reviews total world Tobacco Heating Product (THP) sales in 2024, providing a comprehensive analysis by region and market sector of projected Tobacco Heating Product (THP) sales for 2025 through 2031. With Tobacco Heating Product (THP) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Tobacco Heating Product (THP) industry.

This Insight Report provides a comprehensive analysis of the global Tobacco Heating Product (THP) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Tobacco Heating Product (THP) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms unique position in an accelerating global Tobacco Heating Product (THP) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Tobacco Heating Product (THP) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Tobacco Heating Product (THP).

This report presents a comprehensive overview, market shares, and growth opportunities of Tobacco Heating Product (THP) market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:

    Tobacco Stick
    Loose-leaf

Segmentation by Application:

    Offline Sales
    Online Sales

This report also splits the market by region:

    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the companys coverage, product portfolio, its market penetration.

    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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Tobacco Heating Product (THP) market?
What factors are driving Tobacco Heating Product (THP) market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Tobacco Heating Product (THP) market opportunities vary by end market size?
How does Tobacco Heating Product (THP) break out by Type, by Application?