CBD has become a boon to this world. What started as a medication that was looked at with contempt has turned into a necessity, sparking worldwide demand and lining the shelves of most medicine cabinets in suburban homes. The sheer volume of CBD health benefits would be the selling point that skyrocketed this measly looking medication to the skies.
But a simple flip of the CBD product would reveal the price range that is dramatic, to say the least. The cheapest go for around $20 all the way up to $400! Does this necessarily mean that higher the price tag means better is the product?
The answer to the question is both a yes and a no. There are several factors that decide the price of the CBD product. We’ll give you a guide to navigate the pricing of the CBD products and to choose what is of the best value. Read ahead.
What Is CBD?
CBD or cannabidiol is a highly therapeutic substance that you will find on the extract from the cannabis sativa or hemp plant. Apart from the CBD, there are other ‘like-minded’ potent substances that are part of the pack, called cannabinoids.
CBD, unlike the other cannabinoids, especially THC, is not psychoactive, meaning you will not be intoxicated upon consuming it, and the therapeutic properties are outrageously more than any of the side effects that it possibly has. THC or tetrahydrocannabinol is a weak therapeutic substance that has stronger psychoactive properties. However, in small portions, it does well.
CBD is known to provide a range of benefits and the CBD benefits list varies from anxiety soothing to pain-relieving and anti-inflammation. Irrespective of what age or gender you belong to, CBD has something in store for everyone. Even if you are a toddler battling seizures or septuagenarian fighting against his arthritis pain, CBD has you covered.
With the CBD market opening up, the choices that one can possibly have are endless; so many retailers and CBD manufacturers are putting out their products, and getting confused by the avalanche of products is quite easy. The final price tag that is stuck on the backside of the product depends on many factors. We will be going through them here.
What Does The Pricing Of CBD Products Depend On?
Just because something is expensive does not mean that it is amazingly better than those that aren’t expensive. Here are some of the factors that the pricing of CBD products depend on:
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The Quality control
One of the things that push the prices to the skies is the regulation and the level of the quality management processes. These often help give an idea of the pricing at an optimum level. Those CBD manufacturers that follow up with multiple testing and rigorous quality assurance checks will cause the consumers to pay more premium prices. The cause for this is, although CBD hemp has been officially legalised, there are no regulations in place – there is no “standard” to say that a particular product is of high quality, within the standard or low quality. So you will find CBD from a manufacturer that is plain low-quality and is dangerous, while another CBD supplier may be putting out CBD products that are considered the crème de la crème among CBD products.
When more effort to testing and quality assurance is taken, it finally adds up to the overall cost that the customer ends up shelling.
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The Taxation
Just like alcohol or cigarettes, the taxes that are levied on CBD and hemp products cause the prices to go up. Different states in the US, levy different tax rates on the hemp CBD products, which is factored in by the retailer and reflected in the final pricing.
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The Extraction Method
Different forms of extraction will yield you CBD that is varying in its effectiveness, purity and potency. CBD broad and full spectrum include the whole plant, hence the extraction and further purification needed is little. The CBD isolate form will cost you way more, due to it undergoing more purification and only pure natural CBD being left in the end.
Not all manufacturers make use of the same system of filtration. The reason being that processes like CO2 extraction which are far superior than other methods like Olive oil extraction, cost more due to the heavy equipment needed. So, manufacturers might cut corners and go for something that doesn’t leave quite as much as a dent in their margins.
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Distribution Channels
The more the number of times the product changes hand, the more it cost. The more extensive the channels of getting the product to you, the more it will reflect in the final cost. The reason? Every middle man needs to make their share of profits.
CBD has the power within it to change lives, but make sure that you don’t burn a hole in your wallet in the process. Try out new CBD products that will fill into your demand while not thinning your wallet too much.
