$IDVV entering the CBD market to diversify the Company and position themselves in the CBD Space. This also will allow IDVV to sell its products throughout the United States as well as International.
Currently, the market for CBD is on track to generate more than $600 Million in 2018. Forbes reported that CBD sales will reach over $1 Billion by 2020. The CBD market has virtually doubled between 2017 and 2018 and projections over the next 5 years are significantly higher than in recent years.
Growth is anticipated primarily due to the expectation of the Hemp Farming Act of 2018 (Farm Bill) passing. If it is passed, this will legalize hemp as well as its byproducts which include extracts and cannabinoids, including hemp CBD. The market for CBD-derived products is projected by some to rapidly expand up to $22 Billion by 2022.
For the past few months, IDVV has been working with a firm to effectively enter into the CBD market in 2019, as well as develop a plan for significant distribution including an affiliate program and identifying influencers.
IDVV Spokesman Barry Smith, stated "This enables the company to start generating additional sales while increasing their customer base as new states come online for cannabis sales. The CBD marketplace is growing at a faster rate than cannabis. Consumers want the ability to use cannabinoids and its benefits without the psychoactive effects of THC. The CBD marketplace consists of dozens of product lines and is surpassing the THC market in terms of margins, without the regulations and the barrier to the market. We look forward to announcing our complete plan shortly."
About International Endeavors Corporation (IDVV)
International Endeavors Corporation focuses on building intellectual property and making equipment sales in the medical marijuana and legal cannabis industry through the creation of off-grid grow labs, biomedical devices, clean-energy solutions, and patented devices. The company is also engaged in locating and acquiring established companies, brands, and technologies. The company's real estate portfolio includes commercial property, agricultural land, and buildings.
