ForeverGreen™ Worldwide Corporation (OTCQB: FVRG), a global direct marketing company and provider of health and wellness products, announces that the company has on-going discussions about utilizing CBD in some of its top selling products. The company is currently formulating a line of products, specifically utilizing CBD for human wellness. The company has previously incorporated CBD in past products and believes the new products will first be available in the European Markets.
The final 2018 Farm Bill should open the floodgates on this rapidly evolving industry. Up until now, United States industrial hemp production, from which CBD can be derived, has been restricted to mostly pilot and research programs. The long awaited bill would remove industrial hemp for the federal government's list of controlled substances, making it a lawful agricultural commodity in the U.S. The large majority of the U.S. hemp market today is for products that include the non-psychoactive compound.
Given the growing awareness of the potential health benefits of CBD for a variety of health issues, ForeverGreen has evaluated the information and science supporting this fast growing segment. The company has decided to expand its presence in the category. The company plans to unveil a larger portfolio in the coming months.
The increasing demand for Cannabidiol (CBD) and Hemp based products is expected to push both markets into new territories in terms of sales value in the next coming years. According to a report published by New Frontier Data, the U.S. CBD industry grew by nearly 40% in 2017, reaching USD $367 Million in sales across hemp-derived and marijuana-derived markets. The U.S. CBD market is primed for expansive growth across its three primary sectors, hemp-derived CBD, marijuana-derived CBD and pharmaceutical CBD. Cannabidiol is one of more than 100 compounds found in cannabis. The chemical doesn't make consumers high, but international demand for CBD is growing as word spreads about its potential medical benefits, including claims that CBD can ease seizures, calm anxiety and reduce inflammation. With recent developments and advancements in the hemp industry, farmers across the U.S. and globally are turning their attention to commercialization.
According to the Brightfield Group, the Global market for CBD will top $22 Billion with the next four years. The 2018 Farm Bill, which was recently passed by both the House and Senate, would likely legalize CBD for farmers across the country and allow it for sale nationally in all channels. Non-psychotropic CBD is one of the most medicinal compounds in the cannabis plant, reportedly helping with everything from arthritis to epilepsy and cancer, and is seen by many as a natural remedy instead of a pharmaceutical or narcotic drug.
"The focus of the Company has been to develop products that will distinguish the company. We believe that we can incorporate CBD into some of our existing product lines and are in ongoing discussions to add new products that may benefit from the addition of CBD. Our products already have tremendous advantages which could have additional health benefits with CBD incorporated. The company is poised to capitalize on this movement globally," stated Joe Jensen, ForeverGreen's Executive Officer.
About ForeverGreen™ Worldwide Corporation
Empowering a health-conscious community to focus on mindful self-care, ForeverGreen's products, opportunities and ideals reach around the globe to thousands of individuals in over 100 countries. ForeverGreen combines technology, science and ancient resources into products that can be shipped anywhere using a revolutionary envelope model. Despite this successful development, our most important product will always be people; community involvement and good character are the seeds of complete health. ForeverGreen is a publicly traded company based in Lindon, Utah. For more information, visit forevergreen.org. Welcome Home!
Forward-Looking Statement
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.
Contact:
Joe Jensen
+1(801)-655-5500
[email protected]
Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
[email protected]
SOURCE ForeverGreen Worldwide Corporation
