Help! Why is CBD So Expensive?
If you are interested in CBD, you may have looked at some products and wondered, “Why is CBD so expensive?” and “Is cheap CBD available?”
It’s certainly not because of a lack of demand. In 2019, 64 million Americans said they had tried CBD in the past 24 months. And it’s not a lack of supply: The range of CBD products is extensive, with everything from CBD oil to gummies to bath bombs pillows vying for consumers’ attention. There’s tea, coffee, skin care products, clothing, sprays, suppositories, edibles, and beverages, with new products coming out every day.
So why are CBD products so expensive, and are there sources of inexpensive CBD out there? We’ll address both those questions.
How Much Does CBD Cost?
If you’ve shopped for CBD products recently, you’ve probably seen a wide range of prices. The cost of CBD oil, for instance, averages between $0.05 to $0.20 per mg of CBD. To put that in perspective, a $140 bottle of CBD oil that contains 1500mg of CBD costs about $.09 per mg. Here’s a CBD oil price comparison for some popular brands.
The costs can add up to a lot of money over 12 months. CBD oil for just you and your pet can be $2,400 a year or more. And don’t forget all the other CBD products that are available aren’t cheap, either: CBD bath bombs can be $10-$30 each, while a CBD-infused pillow sells for $129. A CBD pillow? Seriously? But that’s a topic for another blog.
While the cost may be prohibitive for some, it certainly hasn’t hurt sales: In 2019, CBD sales amounted to about $5 billion; Estimates are that number will rise to $20 billion in the US alone by 2023.
What to Look for When Buying CBD
With CBD, as with many products, you get what you pay for. If you’re buying mystery CBD from an unreputable brand, it may cost less. But it also may be non-organic hemp grown overseas in contaminated soil, and it may lack third-party lab analysis that ensures it’s pure and free from THC, pesticides, heavy metals, residual solvents, and bacteria.
Or – especially if you are shopping on Amazon – you may be buying hemp oil, rather than CBD oil. Hemp oil and CBD oil are not the same things. CBD uses the entire hemp plant, and the result is pure CBD. Hemp oil is usually pressed just from hemp seeds and contains no CBD.
Here’s what to look for when buying CBD:
Has a third-party lab tested the product?
If the products aren’t lab-tested, there’s no way to ensure there are no harmful chemicals or contaminants in the bottle. You may not be getting the amount of CBD (or THC) listed on the label.
Does the company post the results of the lab tests on its site?
If not, are the reports easy to access somewhere else? If you can’t get the lab results, beware.
How recent is the lab report?
If it’s from five years ago, again, beware.
Has the product been tested in a third-party lab?
A good, reputable lab has accreditation from the International Organization for Standardization (ISO).
Does the product have .3% THC or less?
If not, it may not be legal in your state. And if there’s too much THC, you may get psychoactive effects that you don’t get with pure CBD.
Where is the hemp sourced?
Hemp can grow in many places, but the growing conditions in the US make it the best place to produce quality hemp.
Are the ingredients all-natural?
Are there additives and hard-to-pronounce ingredients? If so, be sure you know what you’re getting.
What type of CBD is used?
There are three types to consider:
CBD Isolate, which is pure CBD extracted from the hemp plant and isolated from other cannabinoids. The result is pure CBD.
Full-Spectrum CBD is the “kitchen sink CBD.” In other words, it has everything the plant contains, including THC. Because it contains THC, it may not be legal where you live.
Broad Spectrum CBD is a full-spectrum CBD with NO THC.
So, Why is CBD So Expensive?
When you buy CBD from a reputable supplier, here’s what you’re paying for:
1. The cost to grow hemp
As with any crop, farmers need to pay the costs for land, seed, water, specialized equipment, and labor. They often have to pay high licensing fees to the state. After all that, they need to generate a reasonable margin with their crops to make a profit.
2. The cost to extract CBD
The cannabis plant is the source of CBD. Each plant provides a relatively small amount, so you need a lot of plants to get enough raw material to produce a small amount of CBD oil. The cost to extract the CBD involves time, specialized equipment, and labor. Again, to make a profit, a reasonable margin needs to be realized.
3. The cost to test CBD
Buy a product that is labeled correctly and is free from contaminants. The way to do that is to buy CBD tested by an independent third-party lab. Lab testing incurs another cost.
4. The cost to sell CBD
There are a variety of costs associated with selling any item, and CBD is no different. There are packaging, advertising, and shipping costs to consider. Brick-and-mortar retailers have a lot of overhead, so products are marked up so retailers can make a profit.
As you can calculate from above, the cost to grow, extract, test, and sell CBD can quickly add up. And then there’s:
5. Unscrupulous and greedy sellers
Because CBD sales have exploded, there are sellers out there who are just looking to make a quick buck. Their goal is simply to manufacture the compound and sell it for as much as they can get for it. You don’t know what you’re getting if the hemp is grown and manufactured overseas or lacks third-party testing. The product and have more (or less) THC and CBD than shown on the label, or it may contain contaminants. Be sure to look for a reputable brand that grows its hemp in the US, has third-party testing, and has excellent reviews.
Wait a minute, Is there such a thing as cheap, quality CBD?
There is good news: The answer is “Yes,” you can get cheap CBD that’s high quality. Sunrise CBD has the cheapest (we prefer “inexpensive”) CBD oil, as well as other CBD products, anywhere. Our CBD is organic, pure, all-natural, and vegan-friendly. It has no contaminants. We have our products tested by a third-party lab to ensure that you get what it says on the label. That’s important: One study found that of 84 products from 31 companies tested, only about 31% of tested products contained the amount of CBD shown on the label. Almost 43 percent had more CBD than stated, and 26 percent had less. That means some 70% of products did not contain the strength of CBD shown on the label.
Our goal is to have a successful business that also helps people lead better lives. That’s why our focus is on quality and price. How do we do it? First, there’s no fancy packaging, so you’re not paying for that. Second, you can’t buy Sunrise CBD in stores. Our products are available only online. That means there’s no intermediary to drive up prices. Because we ship directly to you, we can sell at prices that are as much as 80% lower than other brands.
So, if you’re looking for high quality, low-cost CBD, head over to https://sunrisecbd.com/shop/ and check out our prices. Trying our products is risk-free. Your complete satisfaction is our primary mission, so we offer a 100% money-back guarantee. If you’re not happy for any reason, we’ll refund your money. And we’ll even send you a return label via email.