CBD has become popular with many people who seek to use it for a great number of reasons. And while those who’ve used CBD for many years understand that cheap products don’t equate to top-quality products, those who are new to buying CBD may be left wondering why CBD is so expensive. Purchasing the cheapest CBD you can find is not the best strategy. Top-notch CBD oil takes time and money to produce and is made with clean, high-quality ingredients. Thus, contrary to your initial gut reaction, it’s actually worth it to spend your money on CBD products that are a little more expensive.
Why Do CBD Products Cost So Much?
There really isn’t one perfect answer to why some CBD products are so expensive. In fact, there are a great number of factors that play into the price of top-quality CBD products. Some of the reasons why CBD is expensive include the time, energy, and resources it takes to grow and produce the product, the amount of fees that both distributors and growers must pay, and the sheer newness of CBD in general.
Product Novelty
Even though CBD is extremely popular these days, most people also forget that it is a fairly new product. Hemp production has only become legal over the last four years with the passing of the 2018 Farm Bill that made producing, selling, and buying hemp-based products with 0.3% or less THC legal across the United States. And, just as with most products that are recently making their way onto the market, CBD products are also going through a bit of price inflation. Additionally, it’s also going to take some time for growers and distributors to perfect and streamline their methods of creating and selling CBD. Currently, most farmers are still trying to figure out how to grow, cultivate, and harvest hemp without taking on a lot of expensive and unnecessary costs. Therefore, it may take a handful of years for the growing and manufacturing process to become easier and less expensive. But until that time, the prices set for CBD oil need to be high enough so that both distributors and growers can make a reasonable profit from it.
The Complexity of Growing and Cultivating Hemp
There are many farmers who are switching over to growing and selling hemp. Interestingly, even though hemp has grown in popularity, what consumers don’t know is that there are many challenges when it comes to hemp in general. Also, there are additional expenses that come with switching over to a new crop. For example, if a farmer is growing a crop like strawberries or blueberries, then they typically won’t need a combine machine for harvesting. But if a farmer is switching over to hemp, then they will incur an added cost of buying a combine machine so that they can most efficiently harvest the hemp. Another way that prices are driven up is in the hiring of more workers, as the crop requires increased time and labor. Not only will farmers need more hands on deck to harvest the hemp, but they’ll also need to closely inspect their crop as it is growing.
After the hemp has been harvested, there are still more expenses. In order to make CBD, the cannabidiol needs to be extracted from the hemp plant. This, in and of itself, is both a difficult and expensive process. Most CBD oil is extracted using the industry preferred supercritical CO2 extraction method or through an ethanol extraction process. Both of these methods require special machinery and time. This is also factored into the price of high-quality CBD products.
Consumer Demand
Another explanation as to why top-quality CBD oil is so pricey is because it’s currently in high demand from consumers who are looking for more natural supplements. A study conducted by Grandview Research states that the size of the global CBD market was estimated to be around 2.8 billion dollars in 2020. The study also concluded that the CBD industry was projected to reach 3.5 billion dollars in 2021. One can only imagine how much the industry is projected to grow for 2022.
Since CBD only became federally legal in 2018, a host of powerful research and scientific studies have slowly pushed the general understanding of CBD further, but there is still much investigating to do in order to understand the intricacies of how the compound works. Because there is a high demand for CBD, this will also drive up its cost, especially since it takes a lot of time, effort, and resources to make. Most economists know that as the demand for a product rises, so too will the cost.
Extra Fees Paid By Farmers and Retailers
One fact that the general public doesn’t know is that hemp growers and sellers must pay more fees than they would with other types of products. CBD oil and other hemp-based products need to go through a lot more scrutiny and inspection by the government. Therefore, fees are a necessary part of this process. For example, the government charges regulatory fees, like licensing fees, that can cost as much as $50 or more per acre every couple of years. Additionally, hemp crops that are rich in CBD are taxed at a much higher price over other crops.
If you buy CBD oil from a reputable brand, then chances are that brand uses an independent third-party lab to regularly test all of its products. The lab reports, which should be readily available to customers, give detailed information on the potency and purity, including cannabinoid content, of the product. Some brands also include a QR code that customers can scan on their phones that will bring up the product’s lab results. There’s also an added expense for bringing on a top-notch independent lab to test CBD products.
CBD Products are Not Exactly Easy to Distribute
Sadly, the cannabis plant has a bit of a bad reputation because of its history of criminalization as marijuana. Therefore, even though hemp is a chemically different strain, this stigma makes CBD products more difficult to sell at times. There is a common misconception that hemp and marijuana are the same thing. This is not correct. Even though both plants are a species of cannabis plant, each one has very different properties. The hemp plant, which naturally contains 0.3% or less THC, is federally legal across the United States. Conversely, the marijuana plant contains large amounts of THC and can cause a euphoric high. Marijuana is only legal in states that have recreational or medicinal marijuana laws on their books.
Since people are now beginning to understand the differences in these two cannabis species, a new acceptance of CBD products has commenced. In fact, CBD is fast growing in popularity all throughout the world. Interestingly, even while attitudes are changing when it comes to hemp-based CBD products, many large companies still see selling cannabis-based products as a liability. Therefore, this is the main reason why they refuse to sell these types of products in their stores. Additionally, even popular online retailers like Amazon have prohibited the sale of CBD products on their platform. Because of this stigma, CBD products are distributed on a much smaller scale through reputable online brands and brick and mortar locations, among others.
Why Should You be Careful When Buying CBD Oil?
Just as with any supplement you plan on buying, you should also take the time to do some research into CBD in general, as well as some specific brands and their products. Many people forget that not all brands and products are created equal. Lots of less reputable brands cut corners and use low-quality ingredients to keep their production costs down. And while it may feel great to get CBD at rock bottom prices, there’s a good chance that the product you’re getting contains harmful pesticides, herbicides, heavy metals, solvents, and other dangerous chemicals.
Along with the wealth of reputable brands in the CBD industry, the market is also loaded with lots of questionable ones. This is why in checking the quality of CBD products, you should look at things like where the brand sources its hemp from, if it uses the best extraction method possible, verified customer reviews, third-party lab reports, and other things before committing to a brand or a product. When it comes to CBD, you want to make sure that the product is clean, potent, effective, and of the highest quality. FAB CBD creates top-quality products that are made from clean Colorado hemp. Along with using the industry preferred CO2 extraction process, FAB CBD also has all of its products regularly tested by an independent third-party lab. Our customers can then find those results right on the FAB CBD website.
Is it Worth Buying CBD That’s Cheap?
While there are CBD products that are priced cheaper than others, it’s really not worth buying low-cost products. In thinking about CBD, the saying, “You get what you pay for,” comes to mind. If you spend a little extra money buying CBD oil from a reputable brand, then you’ll have peace of mind knowing that you’ve purchased a clean, potent, top-quality product. This won’t be the case with a lesser known brand that sells cheaply priced products. It takes valuable time, effort, and resources to grow and manufacture high-quality CBD oil. This is one of the main reasons why top-notch CBD products seem so expensive to begin with.
Be aware that some brands will also use false advertising to make customers believe that their CBD products can cure anything that ails them. Along with cheap CBD prices, brands that make these kinds of wild claims should also be on your radar. Moreover, brands that sell hemp seed oil extract claiming that it’s CBD oil are scamming you. While hemp seed oil does have nutritional value, it does not contain all of the cannabinoids, phytonutrients, and terpenes that CBD oil has.
If you’re looking to buy high-quality CBD and are looking to avoid poor quality CBD oil, then you should expect to pay a decent amount of money for it. It’s worth spending a little more money on CBD oil when you know that the brand is reputable, the CBD is of high quality, and the products are both pure and potent. Afterall, it’s not safe or healthy to use a cheaply priced product that contains ingredients that you wouldn’t ever purposely put in your body. Research is key, and it will save you a lot of time, frustration, and agony in the long-run.
Putting it All Together: Why the Cost of CBD Matters
While those who are new to the world of CBD may suffer from some degree of sticker shock, those who’ve been using these products for a while know that cheap products aren’t the way to go. Reputable brands spend a lot of time, money, and resources to make sure that their products are clean, potent, and effective. So, while it may not feel great paying a little more for a bottle of CBD oil, at least you’ll have peace of mind knowing that you’re getting a high-quality product from a reputable brand. The good news is that like with most highly priced items, the price of CBD products may also reduce over time as manufacturers and distributors figure out a way to streamline their production and distribution processes.
Additionally, since the 2018 Farm Bill made hemp-based CBD products legal throughout the entire United States, there has been a large demand for these products. This will also cause the prices to rise. The good news is that these prices may level off and potentially lower over time. But until then, the most important thing to remember is that in doing your research, you’re giving yourself a better chance at avoiding cheaply priced, low-quality CBD products that can be potentially harmful for your health and wellness. If you’re looking for a reputable brand with top-quality CBD products, then look no further than FAB CBD, as we carefully create clean, effective, potent products that our customers love and enjoy.
