Direct selling companies will sell $300 million worth of cannabidiol-related products in 2018, making direct selling the largest channel of distribution for the rapidly growing CBD product sector.
“Interest in cannabidiol, or CBD, is rapidly transforming the consumer product landscape,” says Todd Eliason, publisher and editor in chief of Direct Selling News (DSN), which conducted the research. “The trends also indicate that global direct selling sales of CBD products could exceed $1 billion by 2020. Established companies as well as a growing number of startups have begun announcing their entry into the market.”
CBD is being credited with a growing list of health benefits and, as a result, companies from virtually every consumable category, including beverages, dietary supplements, skin care and pet products, are actively exploring business in the market. Direct sellers such as Kannaway and Youngevity International were among the first to offer CBD products.
Direct Selling News will be exploring the many factors related to direct selling companies’ leading role in the CBD market in an upcoming edition of the magazine as well as at a Nov. 6 CBD Symposium it is co-hosting with parent company SUCCESS Partners at its Plano, Texas headquarters.
To see the full release, click here.