Ispire enters nicotine pouch market through pharma joint venture

Ispire Technology has announced a joint venture with Chinese pharmaceutical manufacturer Shandong Jincheng Pharmaceutical Group Co., Ltd. to manufacture and commercialise nicotine pouch products, marking the vaping technology company’s entry into the fast-growing oral nicotine category.

The Los Angeles-headquartered company said the partnership would broaden its portfolio beyond vaping hardware and support its ambitions to build a wider reduced-risk nicotine platform.

According to market data cited by the company from Grand View Research, the global nicotine pouch market was worth around $7 billion (£5.18bn) in 2025 and is forecast to grow at nearly 25 per cent annually through to 2033, potentially surpassing $40bn.

Michael Wang, co-chief executive of Ispire Technology, described the move as a “meaningful strategic expansion” for the business.

“Nicotine pouches are a major global growth category, and this partnership enables us to enter the market with immediate operational capability and pharmaceutical-grade manufacturing expertise,” he said.

“Combined with our global distribution and regulatory infrastructure, we believe this positions us to build a significant new revenue stream and further advance our broader nicotine platform strategy.”

Under the agreement, Jincheng Pharma will provide manufacturing equipment, technical expertise and nicotine pouch materials, allowing the joint venture to accelerate production and commercialisation plans.

The companies said the partnership would combine Jincheng Pharma’s pharmaceutical and production capabilities with Ispire’s expertise in precision dosing, regulatory compliance and international distribution.

Jiaquan Li, chairman and president of Shandong Jincheng Pharmaceutical Group Co., Ltd., said the collaboration would help accelerate the rollout of high-quality nicotine pouch products.

“By combining our pharmaceutical expertise and customer relationships with Ispire’s operational capabilities, we are well positioned to scale high-quality nicotine pouch production quickly and responsibly,” he said.

Jincheng Pharma employs around 3,800 staff and operates more than 30 affiliated companies worldwide, with operations spanning pharmaceutical intermediates, active pharmaceutical ingredients, finished medicines and health-related products.

Ispire Technology said initial production would be supported by existing commercial relationships, with further business development opportunities planned as part of its international nicotine platform strategy.

The company, which operates globally under the Aspire brand for e-cigarettes, said the expansion supports its efforts to diversify across multiple reduced-risk nicotine formats while leveraging its manufacturing scale and compliance infrastructure.