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The global Tobacco Heating Product (THP) market was valued at USD 10.35 billion in 2023 and is projected to reach USD 19.01 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period (2024-2030). The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.​

The U.S. Market is Estimated at $ Million in 2023, While China is Forecast to Reach $ Million.
Tobacco Stick Segment to Reach $ Million by 2030, with a % CAGR in next six years.
The global key manufacturers of Tobacco Heating Product (THP) include Philip Morris International (IQOS), Japan Tobacco International (Ploom), KT&G, Pax Labs, BAT(Glo), Imperial Brands, RJ Reynold (Eclipse), Altria and Mok, etc. in 2023, the global top five players have a share approximately % in terms of revenue.

Tobacco Heating Products (THPs), also known as heat-not-burn (HNB) devices, have emerged as a significant segment within the tobacco industry. These products are designed to heat tobacco to a temperature where nicotine and other compounds are released in an aerosol without burning the tobacco itself.

User Demographics:

• Age Distribution: The majority of THP users are adults aged 25-45. This demographic shows a preference for new technologies and a willingness to switch from traditional smoking methods to potentially less harmful alternatives.
• Gender: Men constitute around 60-65% of THP users, although the percentage of female users is gradually increasing as awareness and availability expand.

Geographical Distribution:

• Asia-Pacific: Japan and South Korea are leading markets, with Japan alone accounting for over 80% of the global THP consumption. This dominance is due to early adoption and strong consumer acceptance.
• Europe: The European market is growing steadily, with significant uptake in countries like Italy, Germany, and Russia. The EU's regulatory framework, which often emphasizes harm reduction, supports this growth.
• North America: The U.S. market is still in its nascent stage compared to Asia and Europe, but it is showing rapid growth, particularly after the FDA authorized the sale of some THPs as Modified Risk Tobacco Products (MRTP).

User Behavior and Preferences

• Health Concerns: A significant driver for THP adoption is the perception of reduced harm compared to traditional cigarettes. Surveys indicate that around 70% of users choose THPs believing they are less harmful than smoking.

• Switching Rates: Approximately 50-60% of THP users are former smokers, highlighting the product's role in smoking cessation or reduction. Among these, a substantial number have completely transitioned from combustible cigarettes to THPs.

• Usage Patterns:

  • Frequency: Regular daily use is common, with many users consuming THPs in a manner similar to traditional cigarettes. However, a notable portion of users alternate between THPs and other nicotine products, including vaping and traditional cigarettes.
  • Brand Loyalty: Brand loyalty is high in the THP segment, with leading brands like IQOS (by Philip Morris International) and glo (by British American Tobacco) commanding a large share of the market. Consumer satisfaction with the product's performance and flavor options drives this loyalty.

Economic and Social Impact

1. Economic Impact: The growing THP market contributes significantly to the economies of producing countries through job creation in manufacturing, research and development, and retail sectors. Additionally, it generates substantial tax revenues, albeit often at lower rates compared to traditional tobacco products due to their positioning as reduced-risk alternatives.

2. Social Acceptance: Social acceptance of THPs is increasing, especially in regions with strong public health campaigns against smoking. In many countries, THPs are allowed in spaces where smoking is prohibited, further enhancing their attractiveness.

Future Trends

• Technological Advancements: Continued innovation in THP technology is expected, with improvements in battery life, heating efficiency, and flavor variety. These advancements aim to enhance user experience and safety.

• Regulatory Landscape: The regulatory environment will play a crucial role in shaping the THP market. Countries adopting harm reduction policies are likely to see higher THP adoption rates, while stringent regulations could impede growth.

• Public Health Impact: Ongoing research into the long-term health impacts of THPs will be critical. While early studies suggest they are less harmful than traditional cigarettes, conclusive evidence will be necessary to validate these claims and influence public health policies.

This report aims to provide a comprehensive presentation of the global market for Tobacco Heating Product (THP), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Tobacco Heating Product (THP). This report contains market size and forecasts of Tobacco Heating Product (THP) in global, including the following market information:

• Global Tobacco Heating Product (THP) Market Revenue, 2019-2024, 2025-2030, ($ millions)
• Global Tobacco Heating Product (THP) Market Sales, 2019-2024, 2025-2030, (K Units)
• Global top five Tobacco Heating Product (THP) companies in 2023 (%)

MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Tobacco Heating Product (THP) manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Tobacco Heating Product (THP) Market, by Type, 2019-2024, 2025-2030 ($ Millions) & (K Units)
Global Tobacco Heating Product (THP) Market Segment Percentages, by Type, 2023 (%)

• Tobacco Stick
• Loose-leaf

• Offline Sales
• Online Sales

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

• Key companies Tobacco Heating Product (THP) revenues in global market, 2019-2024 (Estimated), ($ millions)
• Key companies Tobacco Heating Product (THP) revenues share in global market, 2023 (%)
• Key companies Tobacco Heating Product (THP) sales in global market, 2019-2024 (Estimated), (K Units)
• Key companies Tobacco Heating Product (THP) sales share in global market, 2023 (%)

• Philip Morris International (IQOS)
• Japan Tobacco International (Ploom)
• KT&G
• Pax Labs
• BAT(Glo)
• Imperial Brands
• RJ Reynold (Eclipse)
• Altria
• Mok
• ISMOD

Outline of Major Chapters:
Chapter 1: Introduces the definition of Tobacco Heating Product (THP), market overview.
Chapter 2: Global Tobacco Heating Product (THP) market size in revenue and volume.
Chapter 3: Detailed analysis of Tobacco Heating Product (THP) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by channel, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Tobacco Heating Product (THP) in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Tobacco Heating Product (THP) capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.