Ispire Forms JV with Jincheng Pharma to Enter $7B Nicotine Pouch Market
Ispire Technology has entered a joint venture with Shandong Jincheng Pharmaceutical Group to manufacture and commercialize nicotine pouches, leveraging Jincheng’s pharmaceutical-grade manufacturing and Ispire’s global distribution. The global nicotine pouch market, valued at $7 billion in 2025, is projected to grow 25% annually to over $40 billion by 2033.
1. Joint Venture Formation
Ispire Technology and Shandong Jincheng Pharmaceutical Group have established a joint venture to develop, manufacture and commercialize oral nicotine pouches. Jincheng Pharma will supply manufacturing equipment, technical expertise and raw materials, while Ispire will handle precision dosing, regulatory compliance and global distribution.
2. Market Opportunity
The nicotine pouch segment reached $7 billion in 2025 and is forecast to expand at a 25% CAGR to surpass $40 billion by 2033. This category ranks among the fastest-growing nicotine formats, driven by rising consumer demand for smoke-free alternatives.
3. Strategic Impact
This partnership diversifies Ispire’s product portfolio beyond vaping hardware into oral nicotine products, creating a new revenue stream. Leveraging pharmaceutical-grade production and Ispire’s regulatory infrastructure, the company aims for rapid market entry and competitive differentiation.