Here is a summary of our key findings. To read the full report and watch the video, see the link below.
SANTA CRUZ, Calif. (PRWEB) October 05, 2020
- The average cost per milligram of CBD in 2020 is Cost per mg of CBD; 856 CBD Oils.099 (about 10 cents).
- Full-spectrum products (products with CBD, THC, and other cannabinoids) are the most expensive, with an average CBD cost per milligram of About CBD Examine: CBD Examine shows consumers what’s inside their CBD products. Our independent lab reports empower consumers with the cannabinoid levels, accuracy, honesty, and value of their CBD products..104.
- Broad-spectrum products (products with CBD, other cannabinoids, and NO THC) have an average CBD cost per milligram of .097.
- Pure CBD products (CBD isolate, NO THC, and NO other cannabinoids) are cheaper, averaging .075 per milligram of CBD.
CBD Examine analyzed the prices of 856 CBD oils from 263 companies to answer the question, "Are you paying too much for CBD?"
In the price comparison below, you can see the average cost per mg of CBD for 10 top brands, organized from lowest (i.e. best value) to highest.
The notoriety of CBD, or cannabidiol, has grown tremendously over the last couple years, and so has the availability of CBD oils (and their prices). Many people who are getting into CBD start by asking the question: "How much does CBD oil cost?" But with so much variation in the industry, determining which products are truly worth the cost can be a challenge.
CBD oil price comparison
To determine the value, or cost per milligram of a CBD oil, divide the price of the product by the total mg of CBD. For example, a bottle of CBD oil that costs $120 and contains a total of 2,400 mg of CBD costs It's also worth noting that while many people enjoy using CBD oil as a part of their wellness routine, the Food and Drug Administration has only approved one CBD-based drug, known as Epidiolex. This means that mainstream hemp products, like CBD tinctures, have not been evaluated by the FDA and are not intended to treat any disease. If you have a serious medical condition or take prescription medications, consult with your physician before buying CBD oil..05 per mg.
The main draw towards CBD products stems from the compound's many potential health benefits. People buy CBD products to help with inflammation and pain, anxiety and stress, and sleep quality. This is not a full list, but it does encompass some of the most common reasons people turn to CBD. Additionally, CBD oil rarely produces any negative side effects, which can be best avoided by proper dosage and administration.
This THC-free CBD oil tincture from Medterra provides 100 mg of CBD in each 1 ml serving.
Topicals and oils usually list the total amount of CBD. Balms, lotions, and other topicals are products you’re likely rubbing into your skin and therefore, you might not be concerned about measuring out a particular dosage.
Testing can get pricey, especially in a state such as California, where regulations implemented in late 2018 increased testing costs 40% to 55% for some manufacturers, according to MJBizDaily. This can have an impact on how cost-effective the overall production process is, which in turn impacts the cost per milligram to the consumer. Flannery estimated testing can cost a company between $100 and $400 per sample, and they may have to test several samples. Those that produce flower — from which the oil is derived — have to test incrementally, such as every 55 pounds.
There may also be significant markups on the retail side, as cannabis dispensaries are not allowed any type of business write-offs per Section 280E of the Internal Revenue Code.
How do you read the labels on CBD oils?
CBD oil usually comes with a dropper to allow consumers and patients to measure out their dose. Photo by: Gina Coleman/Weedmaps
Third-party lab testing ensures a product is safe and correctly measured. Photo by: Gina Coleman/Weedmaps
“In most other industries, the labor, materials, and profit are often divided into three equal portions,” Stem said. “Given the exposure to this industry with regard to legal, regulatory, and testing standards, it stands to reason that the profit margin must be higher to accommodate potential risk. The markup may be closer to 400% rather than the 40% seen in many other packaged goods.”
Flannery noted that “cannabis tends to be a little more resinous, so the entourage effect and ensemble effect that you would be able to achieve [by] including some of those other cannabinoids is more profound. But if you’re just consuming an isolate product, it does not matter [which plant] it comes from.”