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Let’s Talk About CBD Oil Cost
CBD oil has become popular and pushed its way into the mainstream for a few reasons. The main reason is due to CBD having therapeutic properties and possible health benefits that span many conditions that people deal with daily.
There have been many studies performed around the health benefits of CBD1 and other cannabinoids are beginning to gain some spotlight from the cannabis industry, along with research being performed around these lesser known cannabinoids.2
CBD is one of about 100 cannabinoids that are present within the cannabis plant, and is the second most popular behind the psychoactive cannabinoid Tetrahydrocannabinol, better known as THC.
The CBD industry boom has elevated cannabinoids as a whole, where brands are utilizing other cannabinoids, like CBG, CBC, CBN, and Delta-8 THC, into different types of CBD products and also as stand alone products.
The growth of the CBD industry as a whole has not only influenced the usage of these additional cannabinoids within CBD products, but has also expanded the types of products that are being created within the industry.
Types of CBD Products
When the CBD industry was in its infancy, brands began producing CBD oil that comes in small bottles and uses a dropper to dose out the CBD oil. This quickly grew into brands developing CBD gummies, and CBD capsules that replicate vitamins and supplements that people take daily.
From there, brands began to produce CBD drinks that spans from coffee infused with CBD (like Green Roads Vanilla & Hazelnut CBD Coffee), to dissolvable CBD packs that can be dispensed into your water (like Caliper’s CBD Dissolve Pack).
As the industry continues to grow, CBD School is sure that additional types of products will hit the market and become, at least for that moment, the hot CBD product that everyone needs to try.
What Makes CBD Oil Cost So Much?
If you’re reading this article then you are well aware that CBD products do not come cheap. CBD oil tincture bottles contain between 300mg to 3000mg CBD per bottle. And depending on the brand and quality of the CBD oil, a milligram of CBD can cost between $0.04 to $0.20 per milligram of CBD. While those are some wide variants of cost and milligrams within a bottle, you can see that CBD oil as a whole isn’t cheap.
Let’s break down the many stages of CBD production to understand why costs of CBD products are somewhat costly.
Hemp Plant Farming
During the beginning stages of any industry, prices are usually at their peak. This occurs because the mainstream has not migrated to purchasing the product which in turn means the product has not reached its mass production stage which lowers the cost of production.
This holds true within the CBD industry. While it may seem like there are tons of hemp farms growing a mass quantity of hemp that is used for the production of CBD, and the many uses of hemp, this is simply not the case as of yet.
Farming any crop isn’t cheap. There are equipment, labor, soil, nutrient, water, and other costs that need to be factored into running a farm. If the farm produces organic hemp then many of these costs increase too, believe it or not.
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CBD extraction is not a cheap process whether a brand outsources or does it in-house. The equipment used to extract CBD can cost upwards of $175,000 when all is said and done.
There are many extraction methods, some of which are potentially harmful, like using hydrocarbon solvents, like propane and butane. While this is one of the least expensive methods of extraction, it can also leave a residue within the product, potentially leading to an explosion if not done properly.
The cleanest and most common extraction method, also the most expensive, is the CO2 extraction method. Most brands have turned to this method for extraction which has also led to higher prices in the CBD market, but it has also led to cleaner CBD products that are good for everyone.
Third-Party Lab Testing
All reputable CBD brands will ensure that their products are void of harmful soil contaminants like metals, harmful solvents, and pesticides, and have the cannabinoid and terpene profiles, along with potency that the packaging states by having all of their product batches tested by an independent lab.
This unbiased third-party lab charges a per batch fee, so if a brand produces fifteen different products in their line, and releases a new batch every few months of each product, this lab testing can be quite expensive over the course of a year.
This testing, however, is very important, especially in a somewhat unregulated industry. As a CBD consumer, you should understand what to look for when looking for a high-quality CBD product, and the brand to purchase from. Most brands will list the third-party tests on their website and make them easy to find, and some will go a step further by having a QR code on the packaging itself which allows the consumer to view the Certificate of Analysis (COA) easily.
Potency of CBD Product
You should take note of how many milligrams are contained within the CBD product you are looking to purchase. A 300mg CBD oil bottle and a 1500mg CBD bottle will most likely be the same dimensions, however, the amount of CBD found in each bottle is quite different.
A bottle that contains 1500mg CBD may be double in price, or even more, however, the potency of the higher potency CBD oil will be 5x the amount of the 300mg bottle.
If you are new to CBD consumption you might want to start with the lower milligram bottle, and as you find your proper dosage, you may begin to look into bottles with higher potency.
Higher potency bottles may last you longer as you may not need to fill the dropper fully with a higher potency oil.
The higher-quality added ingredients to a CBD product, the more likely it is that you will pay a more premium price for that product. Sure, you can purchase inexpensive CBD products, but if you analyze the ingredients a bit you may find that the brand uses artificial ingredients which may have a ton of sugar or other unhealthy ingredients.
If you are looking for a CBD product that will provide you with the health benefits you seek, you should pay attention to not only the potency but also if the ingredients are organic, and of high quality.
Ways to Reduce CBD Oil Costs
If you are looking to stretch your dollar a bit, and really who isn’t, you can practice a few cost-saving methods that should cut the cost of your CBD down a bit. Below is a small list to consider.
Most brands at this point have two prices when it comes to their products. The first is the one-time purchase price, and the second is a subscribe and save price. At times you can save yourself about 30% off of the one-time price, and many brands will also allow you to schedule when you receive your subscription products, usually ranging from four to twelve weeks. So, do yourself a favor, find a product you like from a brand, and set up a subscription.
When you find a brand that resonates with you, and you sign up for their newsletter, or you find a brand’s coupon code on the internet, most brands offer customers at least a one-time coupon code to use and save on their purchase(s).
Financial Assistance Programs
Many brands offer a special discount to different employment groups, along with those that have fallen on difficult financial times. Some of these programs offer veterans, teachers, medical professionals, and those with disabilities a hefty discount. Lazarus Naturals for instance offers “major discounts for veterans, people with long-term disabilities, and low-income” a whopping 60% off their purchase.
While CBD products are not cheap, there is a good reason that people pay a premium for high-quality products. Not only have there been studies that show some of the efficacies of CBD, but producing high-quality CBD products is expensive.
There are ways to combat the high prices of CBD, however, and if you do a little digging, you will find some that suit your specific situation.
1Moltke, J., & Hindocha, C. (2021). Reasons for cannabidiol use: a cross-sectional study of CBD users, focusing on self-perceived stress, anxiety, and sleep problems. Journal of cannabis research, 3(1), 5. https://doi.org/10.1186/s42238-021-00061-5
2Epling, S. (2022, January 25). The Scientific Trends of Cannabinoid Research. CAS. Retrieved July 2, 2022, from https://www.cas.org/resources/blog/cannabinoid-research