If you were to walk into your local grocery store or gas station, chances are there would be a cannabidiol (CBD) product of some kind on display. In the last few years, CBD has received a massive amount of consumer attention as a possible remedy for certain illnesses and as a health supplement. The result of this boom has been rapid growth in the types of CBD-based products available, which include edibles, topicals, pet treats, and more.
The price disparity between CBD products has also dramatically increased alongside their surge in popularity, leaving consumers with more questions in an already highly unregulated market. A recent study conducted by the Leaf Report aimed to explore this exact issue and the results were indeed brow raising.
Before we begin digging into the disparities between these products it is important to note that there are multiple factors that can lead to differences in price points across CBD products. These include farming expenses (cost can vary depending on location), extraction methods (CO2 vs. butane), organic certifications, and lab testing for product purity. These specific factors and many more can impact the final price.
Based on this recent report, price disparities for each CBD product type vary drastically. For example, there is a whopping 760% discrepancy between the least and most expensive brands of CBD capsules. And that’s not even the biggest extreme.
Tinctures, gummies, capsules, isolates, pet care, vapes, and topicals all had an enormous 3200% price variation between products. To put that into perspective further, the 3200% difference equates to a price of $0.02/mg of CBD on the low end and $0.66/mg on the high end. Another point worth making is that potency is not necessarily correlated with price.
Due to an increasing number of variables that can impact CBD prices, it is no wonder why some consumers might feel overwhelmed at the amount of different brands out there. That is why it is important to always do your homework before choosing a CBD brand. Everyone has a different preference and the important thing is to find a product that best fits your “needs—at” the right price.
Image source: https://www.foodnavigator.com/Article/2019/10/24/CBD-and-hemp-We-re-at-the-beginning-of-this-cycle-of-disruption
