Key Points
- Ispire Technology announced a joint venture with China-based Jincheng Pharma focused on nicotine pouches.
- The partnership combines pharmaceutical-grade manufacturing with Ispire’s global regulatory and distribution capabilities.
- The deal marks Ispire’s expansion beyond vaping hardware into oral nicotine products.
- Ispire cited estimates valuing the nicotine pouch market at roughly $7 billion in 2025.
- The market is projected to exceed $40 billion by 2033.
2Firsts
May 13, 2026, Ispire Technology (NASDAQ: ISPR) announced on May 12 that it has entered into a strategic joint venture with Shandong Jincheng Pharmaceutical Group Co., Ltd. (SZSE: 300233) to manufacture and commercialize nicotine pouch products.
Ispire said the partnership marks its entry into the rapidly expanding oral nicotine category and broadens its portfolio beyond vaping hardware.
The company said the joint venture combines Jincheng Pharma’s pharmaceutical-grade manufacturing capabilities with Ispire’s strengths in global regulation, precision dosing, and international distribution.
Nicotine Pouches Seen as Major Global Growth Segment
Citing Grand View Research, Ispire said the global nicotine pouch market was valued at approximately $7 billion in 2025 and is projected to grow at nearly 25% annually through 2033, potentially exceeding $40 billion.
Co-CEO Michael Wang said:
“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 added that the company expects the partnership to create a significant new revenue stream and support its broader global nicotine platform strategy.
Jincheng Pharma to Provide Manufacturing and Materials Support
Under the agreement, Jincheng Pharma will contribute manufacturing equipment, technical expertise, and nicotine pouch materials to support rapid production ramp-up and commercialization.
Ispire said it will provide precision dosing technology, regulatory compliance capabilities, and global distribution infrastructure.
Jincheng Pharma Chairman and President Jiaquan Li said:
“Ispire’s proven manufacturing excellence and global regulatory capabilities accelerate our path to commercialization.”
Jincheng Pharma currently employs approximately 3,800 people and operates more than 30 affiliated companies worldwide, with businesses spanning pharmaceutical intermediates, APIs, finished pharmaceutical products, and health-related products.
Ispire Continues Diversifying Its Nicotine Portfolio
Ispire said initial production will be supported by existing commercial relationships, while the company also plans to pursue additional business opportunities in the oral nicotine category.
The company said the expansion is part of its broader strategy to diversify across multiple reduced-risk nicotine formats.
Ispire currently develops and distributes vaping and cannabis vaporization products and holds more than 400 patents globally.
Its Aspire-branded vaping products are sold internationally outside the U.S., China, and Russia, while the company also operates ODM partnerships with vape brands and retailers worldwide.
(Cover Image:Ispire Malaysia’s vape manufacturing facility in Senai, Johor.|Photo: Ispire LinkedIn)
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