Over the last few years, the popularity of CBD has increased. Even though there are many manufacturers in the industry now, CBD oil prices have become quite competitive lately. But it’s important for any consumer to ensure that they get a good deal.
The best way to do this is to determine the average cost of a CBD oil product per milligram (mg). Some products, of course, cost more than others, and this is based on different factors such as the brand, additional ingredients, and potency. So, how much does CBD oil cost? This article review highlights the cost of CBD oil products, including how to calculate the average cost per mg.
How Much Does CBD Oil Cost?
The cost of CBD oil varies, depending on the brand, type of CBD, and amount. Generally, the best CBD products cost between $0.02 and $0.2 per mg. Higher quality CBD oil products cost around $0.13 per mg. But if you need more volume and with even higher potency, then you need to dig deeper into your pockets.
However, you will get value for your money in this case since bigger bottles and higher CBD strengths are usually long-lasting and highly effective.
How to Calculate CBD Prices
The best way to determine the cost of a CBD product and if it offers value for money is by comparing the price per mg. Does this sound more complicated? Well, it’s quite a straightforward process, especially if you know what to do. Generally, you need to consider two variables i.e., the total amount of CBD in mg and the price.
After that, you need to divide the price by the amount of CBD in mg. this way, you will ascertain the price per mg. it should be noted that the number of mg on the product label usually represents the total CBD content per bottle. So
- Price/total mg CBD= price per mg If the price of CBD per bottle is $30 and it contains 300 mg, then the price per mg will be:
- 30/300= $0.1 From such a calculation, you will know if you are overpaying or getting value for your money.
Factors Influencing the Cost of CBD
It’s clear that the price of CBD products fluctuates. As stated above, there are certainly several factors that determine the price of CBD oil. Some of the most important considerations to take note of include:
- Farming Practices
- Extraction Costs
- Ingredients
- Independent 3rd-Party Lab Tests
Farming Practices
CBD is a bioaccumulator – it absorbs anything in its surroundings. As a result, reputable growers must approve by the FDA. This is because the cost of managing hemp plants’ growing environment isn’t cheap. These plants require state-of-the-art farming practices that ensure the hemp plants grow in nutrient-rich soils. Besides that, farmers should consider using natural farming practices other than toxic pesticides and harsh chemicals.
Extraction Costs
There are several methods of extracting CBD from the hemp plant. However, premium extraction techniques usually require modern, updated equipment, which is expensive. This is important in perfectly isolating the microscopic cannabinoids and preserving them to retain their potency and bioavailability.
CO2 extraction is currently the industry standard, and it’s renowned for its integrity in protecting the profiles of many phytocannabinoids and terpenes. However, this is a costly method hence CBD products made by CO2 extraction are usually expensive.
Ingredients
The purest form of CBD, CBD isolate, contains only cannabidiol. However, other CBD products contain other ingredients that may incur additional costs. For instance, Joy Organics’ CBD soft gels for sleep are usually made with Melatonin. This means that they are more expensive than other CBD soft gels.
Independent 3rd-Party Lab Tests
Reputable CBD brands in the industry usually conduct independent 3rd-party lab tests. This is important in ensuring that consumers get high-quality and contaminant-free CBD products. Additionally, such tests are important for product and brand transparency.
Companies with updated and readily available 3rd-party tests usually spend more money. As a result, the total cost of verifying the quality and effectiveness of such CBD products will be passed down or shared with the buyer.
How to Get the Best CBD Deals?
Price matters when it comes to purchasing any product. Now that you know the average cost of CBD oil products per mg and how to calculate the prices per mg, it’s still important to look for the best deals.
There are a few things that can help you save money:
- Comparing prices per mg rather than prices based on the bottle size
- Consider the type of CBD oil product you want to buy. Edibles and tinctures still provide the most effective ways of taking CBD.
- Buy your CBD oil products in bulk rather than single items
- Vape CBD products are cost-effective and provide the highest bioavailability. However, vaping could end up damaging your lungs.
- Make use of exclusive coupons and sales deals.
Will the Cost of CBD Ever Reduce?
The popularity of CBD is increasing significantly, and there are now more retailers than ever. But does this mean that the cost of CBD oil and other CBD products will reduce? Well, eventually, the cost of CBD oil will come down, but not unless laws change.
It should be noted that the biggest influencer when it comes to CBD cost per mg is the regulatory environment. Growers need to use FDA farming requirements to ensure that they are cultivating safe products suitable for human consumption.
Besides that, there are also infrastructure costs the manufacturers need to consider. For instance, the use of the latest techniques to manufacture contaminant-free CBD products. If the regulatory measures are changed, more innovative manufacturing solutions, and the government decides to loosen the regulatory measures and support hemp farmers, there will be a likely decline in prices. But until then, the prices will remain high.
FAQ:
1. How much do CBD oil tinctures cost?
The cost of CBD tinctures normally ranges from $0.40 and $0.20 per mg.
2. How much does CBD vape juice cost?
High-quality vape oils cost from $0.20 to $0.07 per mg. take note that the average price of premium vape juice is around $0.10 per mg.
3. How much do CBD topicals cost?
Unlike vape juice and tinctures, topical CBD products have low bioavailability. Their prices typically range between $0.20 and $0.30. on average, you can find premium topical creams at around $0.25 per mg.
4. How much do CBD concentrates cost?
CBD concentrates are the cheapest of CBD products. You can still find a high-quality CBD product at $0.05 per mg. making bulk purchases will even save you more.
Conclusion
CBD products are generally cheap than most prescription medications. That’s why people looking for cost-effective alternative sources of medications prefer them. However, CBD oil is still expensive compared to other supplements. The best way to determine if you are getting value for your money is by calculating the cost per mg.
But this doesn’t mean that expensive CBD products are the best and vice-versa. Simply make sure that you are getting what you are paying for. In the future, CBD oil will probably be cheaper as regulations loosen and more farmers start to cultivate industrial hemp plants.
