Chula Vista, Calif.-based Youngevity International, a leading omni-direct lifestyle company, recently announced it will enter the CBD market with a proprietary line of hemp-derived CBD oil products.
Youngevity has taken a measured approach to entering the CBD market after ensuring that a credible amount of research had been conducted to support concrete health benefits. Hemp (CBD) oil products also support the company’s belief in natural forms of nutrition and nutrients that address root causes of health issues and support relief of symptoms. That belief, combined with the industry’s burgeoning popularity, aligns with Youngevity’s goal of enriching people’s lives through better health and better business opportunities.
“We firmly believe in plant-based nutrition, and hemp (CBD) oil perfectly complements our product development philosophy,” said Chief Executive Officer Steve Wallach. “Entering this market, which is growing almost exponentially, also should offer a tremendous advantage to our many Distributors around the world.”
According to the latest data, the CBD market is experiencing meteoric growth. In fact, the Hemp Business Journal estimates it will grow to $2.1 billion in consumer sales by 2020, with $450 million of those sales coming from hemp-based sources. That’s a 700 percent increase from 2016. Demand for CBD has also skyrocketed, which is due in large part to the wide variety of ways it can be used in products, ranging from cosmetics to food and beverage to health supplements.