SAN DIEGO, Aug. 21, 2018 /PRNewswire/ -- YGYI, Inc. (YGYI), a leading omni-direct lifestyle company, has announced it intends to soon enter the CBD market with a proprietary line of hemp-derived CBD oil products.
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% 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.
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.
According to Youngevity Chief Executive Officer, Steve Wallach: "We firmly believe in plant-based nutrition, and hemp (CBD) oil perfectly complements our product development philosophy. Entering this market, which is growing almost exponentially, also should offer a tremendous advantage to our many Distributors around the world."
If you'd like to be among the first to get updates on the upcoming product launch, please visit www.hempfx.com.
About Youngevity International, Inc.
YGYI, Inc. (NASDAQ: YGYI) is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, YGYI offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company's food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit YGYI.com. Be sure to like us on Facebook and follow us on Twitter.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and includes statements regarding the Company's plans to enter the CBD market with a proprietary line of hemp-derived CBD oil products and the market offering a tremendous advantage to the Company's Distributors. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to participate in the CBD market with the planned proprietary line of hemp-derived CBD oil products, our ability to continue our international growth, our ability to leverage our platform and global infrastructure to drive organic growth, our ability to improve our profitability, expand our liquidity, and strengthen our balance sheet, our ability to continue to maintain compliance with the NASDAQ requirements, the acceptance of the omni-direct approach by our customers, our ability to expand our distribution, our ability to add additional products (whether developed internally or through acquisitions), our ability to continue our financial performance, and the other factors discussed in our Annual Report on Form 10-K and our subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Contacts:
Youngevity
Main Office: 1 (619) 934-3980
Customer Service: 1 (800) 982-3197
Place an Order 1 (800) 982-3189
Support@Youngevity.com
Investor Relations
YGYI investor relations
800.504.8650
investors@ygyi.com
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SOURCE Youngevity International, Inc.
