A smoking product comprising: a smoking material portion wrapped by a smoking material wrapper; a filter portion whose upstream end is combined with the smoking material portion, which includes a capsule containing a flavoring, and which is wrapped by a filter wrapper; and a tipping wrapper surrounding at least a partial region of the smoking material portion and the filter portion so that the smoking material portion and the filter portion are combined, wherein the tipping wrapper includes a first perforation region including a plurality of perforations (212p1, 212p2) formed along an outer circumferential surface of the tipping wrapper and a second perforation region including a plurality of perforations formed downstream of the first perforation region and along the outer circumferential surface of the tipping wrapper, and the capsule is disposed downstream of the first perforation region and upstream of the second perforation region, wherein: the filter portion includes a first filter whose upstream end is combined with the smoking material portion and which includes the capsule and a second filter whose upstream end is combined with a downstream end of the first filter; and the filter wrapper includes a first wrapper which surrounds the first filter, a second wrapper which surrounds the second filter, and a combining wrapper which surrounds the first filter and the second filter so that the first filter and the second filter are combined, and wherein: the first perforation region is disposed in a region overlapping the first filter, and the second perforation region is disposed in a region overlapping the second filter; and the first perforation region is formed to pass through the tipping wrapper but not pass through the combining wrapper and the first wrapper, and the second perforation region is formed to pass through the tipping wrapper, the combining wrapper, and the second wrapper. a smoking material portion wrapped by a smoking material wrapper; a filter portion whose upstream end is combined with the smoking material portion, which includes a capsule containing a flavoring, and which is wrapped by a filter wrapper; and a tipping wrapper surrounding at least a partial region of the smoking material portion and the filter portion so that the smoking material portion and the filter portion are combined, wherein the tipping wrapper includes a first perforation region including a plurality of perforations (212p1, 212p2) formed along an outer circumferential surface of the tipping wrapper and a second perforation region including a plurality of perforations formed downstream of the first perforation region and along the outer circumferential surface of the tipping wrapper, and the capsule is disposed downstream of the first perforation region and upstream of the second perforation region, wherein: the filter portion includes a first filter whose upstream end is combined with the smoking material portion and which includes the capsule and a second filter whose upstream end is combined with a downstream end of the first filter; and the filter wrapper includes a first wrapper which surrounds the first filter, a second wrapper which surrounds the second filter, and a combining wrapper which surrounds the first filter and the second filter so that the first filter and the second filter are combined, and wherein: the first perforation region is disposed in a region overlapping the first filter, and the second perforation region is disposed in a region overlapping the second filter; and the first perforation region is formed to pass through the tipping wrapper but not pass through the combining wrapper and the first wrapper, and the second perforation region is formed to pass through the tipping wrapper, the combining wrapper, and the second wrapper.