Popularity of the CBD market is rocketing. It has exploded over the past few years, leading to the arrival of new products almost everyday. Five years ago, CBD was virtually unheard of. Today it has turned into a multi billion dollar industry that is offering numerous products to its consumers. From tinctures to personal care products, you have got a variety of options to take CBD oil.
If you have done a bit of research, the uncanny fact you probably have encountered is that the price is not consistent. It varies from company to company, even when they seem to be selling the exact same product.
As a consumer, you have the right to know why CBD costs what it does, moreover, what to look for when determining different price points. When it comes to CBD oil products, quality really matters and going for the cheaper products is risky as always.
So How much does CBD oil cost really? Simply put, there’s no straight answer to this. If you look around you will find companies who are selling the same amount of CBD oil for up to five times the cost of others. It is really hard to find the best price for CBD, especially if you are a rookie in this market.
According to researchers, manufacturers, retailers, and the consumers, there are a few reasons why the price of CBD oil can be high. These include:
Reasons mentioned above contribute to determining the price of CBD oil products. Here in this article, we are going to take a look at a few of them.
Hemp can be grown anywhere in the world. Very recently, cultivation of hemp became legal in the U.S. Before that growing hemp in the U.S was prohibited. This is a reason why many CBD oil products available now come from the hemp grown in other countries.
The problem with this is that hemp is a bioaccumulator, as a result, hemp plants absorb almost everything from toxins to heavy metals from the soil. This process is also known as phytoremediation.
As a result, CBD oil derived from those plants cultivated in polluted soil may contain these toxins, pesticides, and heavy metals in condensed amounts. Since the CBD market is not well regulated yet, manufacturers are not required to inform their customers about the location of the hemp plant they use to produce CBD oil and if it contains any contaminants.
For producing high quality CBD oil, hemp plants are grown in nutrient-rich soil that doesn’t contain pesticides and any harsh chemicals. This doesn’t only enhance the quality of CBD oil but also makes sure it is safe. This type of cultivation is costly and requires intense care.
The extraction process to produce cannabidiol oil from hemp plants is complicated and expensive. The real cost of extracting CBD may surprise you. According to experts, the vast majority of lab startups fall into the $400,000 to $800,00 budget range.
The high cost of the extraction process has a lot to do with the price you have to pay for CBD oil or other CBD products.
CBD companies have to pay a high price to bring unregulated products into the consumer market. While recently laws are allowing the cultivation of hemp, some of the legal barriers that have plagued the CBD industry lately still impact it today. While other wellness-related products are regulated and considered legit, CBD companies are taking a big risk bringing products into this loosely regulated consumer market.
In a market that is so unregulated, it’s necessary you choose a company which can provide you with third party lab test results. As we mentioned above, hemp is a bioaccumulator. As a result, it’s vital you want to know if your product contains any kind of unwanted substances.
Big companies test their final products in third party laboratories to keep up their transparency and to make sure the consumers get what they deserve. It requires money to test products in independent laboratories which is in fact one of the many reasons why the price of the CBD product you are purchasing is high.
RELATED: There are many reliable white label CBD product manufacturers out there. If you are looking for wholesale CBD products, it’d be best if you search on google and do a little research by yourself.
The unregulated market, cost of production, extraction, and the refining process are some of the many reasons why the price of CBD oil is high and varies from company to company. When the CBD industry itself will be more established, well regulated, and changes come in supply demand, the prices of CBD oil products will be more stabilized.