How Much Does High-Quality CBD Cost?

CBD is a terrific cannabinoid found in cannabis plants. 

It's touted to help many people improve their lifestyle — from becoming more healthy to even finding relief from ailments like PTSD, anxiety, addiction, chronic pain, diabetic complications, and a lot more.

But for regular CBD users, the equation is not so simple. 

Perhaps the biggest problem CBD users face these days is the prices — they are sometimes too high — especially for those that rely on CBD on a daily basis. 

And even if you are not a regular CBD user, you might still be curious about its pricing. At what cost does this lifestyle-improving product come? 

Don't worry, we have all the answers. 

In this article, we go into detail about the pricing of CBD products — how much CBD costs, why is CBD so expensive, and how to find cheap CBD — read on to know more.

Why is High-Quality Important When Buying CBD Products?

CBD is quickly gaining popularity, even in countries where cannabis is not fully legal but CBD is. And more and more medical professionals are also turning towards CBD for their patients. 

With this popularity comes a high price because let's be honest, CBD product manufacturers are businesses that want to keep their business running. 

But CBD is also a largely unregulated market. For example, in the US, the FDA only recognizes one CBD product, Epidiolex, an anti-epileptic medicine. Thanks to the lack of regulation, many CBD product manufacturers are creating products with little oversight and standards, leading to low-quality products.

And these low-quality products are often sold for cheap — regulation and standards can get expensive. In fact, some of these products barely even contain CBD! Such products are often targeted at individuals who don't yet know what distinguishes high-quality CBD products from low-quality ones. 

One incident that highlights this problem occurred in 2018 when 52 poisoning cases from CBD were reported in Utah. According to the CDC report, the reason for this was that the CBD products were completely fake and contained incorrect labeling, which many people fell for.  

Cheap CBD is an oxymoron because producing high-quality CBD is inherently expensive in most cases. So, remember that all the details we discuss later in the article pertain only to high-quality CBD products manufactured by reliable companies, not low-quality products.

Why are CBD Products so Expensive?

As mentioned earlier, CBD products are inherently expensive due to the manufacturing process that involves a lot of things, including extraction and laboratory testing. But various other factors play into the pricing of CBD products, such as the source of hemp, the extraction process, technology used, and staff employed, along with other things. 

Due to this array of factors, any company that claims to sell high-quality CBD at a very low price is likely to cut corners because the cost of these factors automatically raises the price of the product. But that does not mean every expensive CBD is good — some companies are also notorious for overpricing their CBD products. 

Before getting into what is the best price for CBD products, let's discuss the pricing factors. Here are the factors that determine the cost of CBD. 

1. Quality of Ingredients Used

The first factor that influences the final cost of the product is the ingredients used, especially hemp. For instance, high-quality CBD products are made from organic hemp that is both non-GMO and pesticide-free. But this practice usually comes at a higher cost compared to hemp grown with pesticides.

Fortunately, more and more new farms are set up to grow hemp, hopefully driving the prices of hemp down in the coming years. 

2. Extraction Method

CBD can be extracted from hemp in various ways, including distillation, natural solvent extraction, and carbon dioxide extraction. Some of these methods are more expensive than others.

For example, carbon dioxide extraction, which is considered the best method due to its high quality and consistency with minimal impact on the environment, is expensive. So, CBD products made using CO2 extraction tend to be more expensive than those made using steam distillation. 

To give you an idea, a single CO2 extraction machine can cost up to $150,000!

Some cheaper CBD product manufacturers use hydrocarbon solvents for extraction, but this process is potentially dangerous for the users and the manufacturers. This is another reason to avoid cheap CBD products. 

3. Potency

The potency refers to how much CBD is within the product, which is usually measured in milligrams. So, the more concentrated, or potent, a CBD product is, the more expensive it will be. Thus, you can consume CBD products with higher potency if you need them since they will also be more effective. 

4. Third-Party Testing

Every company can claim their products' potency, quality, and usability, but these claims aren't credible enough unless they are backed by a third party, which is a dedicated independent laboratory that tests the products. And high-quality, reputable manufacturers always get their batches tested by these labs to ensure they meet predefined standards.

However, third-party testing of CBD products is not cheap. But for the higher price, you are assured that the product you use is actually as potent as the packing claims. 

Even if some smaller brands may not publish Certificates of Analysis from a third-party lab, they should still be made available upon the request of the consumer. If they refuse to answer your questions or do not give out COAs, you're better off looking for another company. 

5. Other Miscellaneous Costs

The cost of CBD products is also influenced by other factors, such as the following:

• Brand reputation 
• Employees hired by the company 
• Where you purchase it from; e.g., online shops are often cheaper
• Shipping charges if ordered from a far-off location, etc.
• Local government taxes or similar costs

All of these come together to make up the final cost of CBD products.

What is the Average Cost of CBD?

Considering the factors that determine the prices, there is still a price range that most high-quality CBD products fit into. Also, these prices vary, depending on the type of product it is.

The average cost of CBD products is best calculated in price per mg, which is what this article uses.

Here are the rough costs of the most common CBD products.

1. CBD Oils

CBD oils are the most common CBD products sold (except for flowers), which is why there are cheaper than most other CBD products.

Generally, high-quality CBD oils cost around USD 0.09 to USD 0.18 per mg, but some oils can even exceed USD 0.2, especially if they are high-potency oils. 

2. CBD Gummies

CBD gummies are the next popular products that are gaining a lot of traction recently because they are not only a safe way to consume CBD but also a fun way — you get them in a variety of flavors!

Gummies are a little more expensive than CBD oils because they require extra ingredients and their production cost is also a little higher. 

Usually, a container of CBD gummies (30 gummies) ranges from $30 to $60, and a larger container (around 1500 mg of gummies) would cost around $100. However, note that these prices depend on the brand and the quality and may be higher or lower depending on several factors discussed above.

3. CBD Capsules

Many CBD users also consume capsules since they are easy to gulp down while providing all the benefits of CBD. These pills are like any other medicinal pills — made for literally pennies per capsule.

So, generally, CBD capsules cost around $0.1 per mg, and a bottle of capsules can cost up to $150. Although it may seem super expensive, it's worth the money because a large bottle can last you for a few months, making it one of the most inexpensive ways of consuming CBD. 

Some people splurge on CBD occasionally and forget about it for various reasons. However, if you need it on a regular basis, consuming capsules may be your best bet as they are relatively cheaper and you also don't have to measure out the doses every time you consume it. 

4. CBD Topicals

CBD topicals are another popular type of CBD product, which includes creams, salves, lotions, and gels. Topicals' price ranges from $0.07 to $0.1 per mg, and sometimes, they can cost up to $0.35 per mg if they are higher-end products. 

How to Calculate the Price per mg for CBD Products?

Knowing whether a CBD product is cheap or overpriced is not always easy, but there is a cheat code. You can easily find the price per mg of CBD products using a simple calculation. And if the prices fall below the typical prices listed above, the product is cheap and if it falls over the prices listed above, it is expensive. 

This is the most reliable way to check CBD products' prices. Leave other things like ingredients, size, and product type aside. The aim of this calculation is to figure out how much CBD you are getting for your money.

All you have to do is divide the price of the product by the potency or mg of CBD it contains. The result is the price per mg of the product.

For example, if a CBD oil product costs $30 and contains 100 mg of CBD, then its per price cost would be — 30/100 — $0.30 per mg of CBD. And this is expensive, considering the average cost of high-quality CBD oils starts at $0.09. Instead, you would have to find a product that costs under $20. 

How to Save Money on Buying High-Quality CBD Products?

Apart from knowing the average rate and calculating the price per mg, there are still some other ways that can help you save money when purchasing CBD products. Here are a few tips.

1. Avoid Low-Quality Products

As mentioned previously, low-quality CBD products are often not well produced and may contain a lot of contaminants. With CBD, you get what you pay for. Plus, there is no way to check the product's quality if the dealer has not provided any third-party analysis certificates. 

So, the first tip on saving money on CBD products is to not look for the cheapest one you can find. It sounds counterproductive, but it is essential to get the best results from CBD.

2. Look for Reward Schemes

Many reputable CBD sellers provide various offers and schemes that can save you a lot of money in the long run. For example, you may find a CBD product that costs $100, but the seller may offer you rewards like cashback, loyalty schemes, discount coupons, etc. that will help you save money when you stick to the brand.

Of course, this is the brand's way of ensuring they can get new customers, but when used right, these schemes can help you get high-quality CBD products at a good price.

3. Sign Up for Newsletter

Many reputable CBD brands run newsletters where they regularly send discount coupons. And the discount coupons are often excellent money savers. All you need to do is provide them with an email ID and keep checking their newsletters once in a while.

4. Join a Subscription Plan

If you have found a CBD product (and dosage) that works for you and you intend to stick to it for the long term, you can even sign up for a subscription plan that many CBD sellers offer. 

With these plans, the sellers ship you certain products on a monthly basis. And you can save a lot of money with them, ranging from 5% to even 25% in some cases. 

5. Shop Around 

Never purchase the first CBD product you come across. Instead, look for options — check similar products at your local dispensary and online stores. Even if you have finalized a single product, for any reason, you should still check out what the prices are for it in other stores.

Most often, online stores offer great discounts on the same products compared to brick-and-mortar stores since online stores don't have to invest a lot in the physical space. 

6. Choose High Potency CBD Products

One of the most effective ways to save money on CBD products is to choose those with high potency. Even if the cost may be slightly higher than regular CBD products, the high potency makes up for it. 

Remember, do not focus on the bottle size. Instead, check the packing label to see just how much CBD is present in the bottle. Here, use the price per mg calculation to find exactly how much you are paying for the CBD product. 

7. Buy CBD in Bulk

You can even buy CBD in bulk from wholesale dealers. Sure, you will end up with a lot more CBD but savings will be significant (up to 40%), especially if you manage to find a manufacturer who is willing to sell in bulk to individual buyers. Plus, bulk orders can even get you free shipping, so that's an added benefit.

8. Make Purchases During Festive Seasons

In a year, there are many days when most brands offer a lot of discounts, such as Christmas, Summer Sale, Black Friday, End of Season Sale, etc. So, you can plan out your purchases and order the products during season sales times to get massive discounts. 

9. Make Your Own CBD

To save most of the cost, you can even try making CBD products at home. It is fairly easy to do and requires minimal equipment for most methods. And CBD products can be made by anyone as long as you follow the recipe.

You can go further and even grow your own hemp. It is easy, but ensure it is legal to grow hemp in your country. Otherwise, you may get into legal trouble for growing hemp, even if you want to use it for medicinal purposes. 

Where to Buy CBD Products From?

CBD products are far more accessible to consumers than any other cannabis by-products if you don't consider the cost of CBD. This is because CBD is completely non-psychoactive, often entirely free of THC, and even if it contains THC, it does not show up in drug tests. 

So, it is easy to buy high-quality CBD products everywhere, as long as they are legal in the state. However, even in these regions, you can still come across products that are overpriced. 

The best way to avoid products that are over-priced is to buy from sellers and dispensaries that are licensed. They have to abide by certain industry standards, which keep them from overpricing their products.

A good sign of a reliable CBD seller is that each of their products will be tested by a third-party lab to verify the CBD contents and quality of the product. If a brand does not offer these analyses, be wary.

Sellers outside these parameters, such as non-registered sellers or street sellers, can price whatever they want, and often, their products may not be high-quality either. In some cases, products from unlicensed sellers may even be unsafe for consumption for many users. 

Doctor's Prescription and Insurance Cover

In most parts of the world, licensed doctors cannot prescribe CBD even if it's legal. In other regions, physicians can prescribe CBD but these doctors are often highly-specialized and have certain permissions to do so.

Still, given how popular CBD is these days, it is not easy to find a doctor around you who would “recommend” buying over-the-counter products in most places where CBD is legal. 

But if you are concerned about the insurance cover, given how expensive CBD products can get, you are somewhat out of the luck. For the same reasons, doctors cannot prescribe CBD in many parts of the world, and even insurance companies cannot offer insurance cover. 

For example, in the US, the FDA recognizes CBD as a New Dietary Ingredient (NDI), but it is still not approved by the body. This leads to the insurance company not proving cover for CBD in the country. 

Will CBD Products Get Cheap?

CBD (and other cannabis products) have come a long way in the last decade. During the beginning of the millennia, no one would have imagined cannabis products to be so widely accepted by consumers, governments, and medical professionals.

CBD is still expensive, but that's because the products are in demand and manufacturers are just beginning to appear in the market. With any kind of new product or technology, the price is likely to decrease over time.

According to industry experts, CBD prices are predicted to drop drastically in the coming years. Over time, the industry will become accessible for small entrepreneurs, making it easier to get over the legal hurdles.   

This will lead to many new companies being set up and production quantities going way higher. Then, the manufacturers will be able to meet the demand and the prices will come down. 

But CBD may not become as cheap as off-the-shelf medicines or supplements. The production cost of CBD is high and the regulations are quite strict, compared to other products. So, while the prices will drop, don't expect CBD gummies to cost as much as regular gummies. 

Summary: How Much Does High-Quality CBD Cost?

In the last decade, most people have realized that cannabis is not “the devil's lettuce”, but in fact a terrific plant with various medicinal and lifestyle benefits. And a lot of this is thanks to CBD, which is helping patients suffering from various conditions from depression to epilepsy and a lot more. 

In fact, CBD is also helping people improve their daily life, from helping them eat better, sleep better, or work better. 

But CBD is still not as accessible to everyone — high-quality CBD products are expensive. And cheaper, low-quality products are never recommended because of the potential risks and chances of low potency.

So, if you want to include CBD in your daily routine, you need to be smart about it. Knowing how much CBD costs is only the first part of the puzzle. The next part is to find products that fit your budget, using the price per mg calculation.

Use various tactics to get the best prices, from discounts to bulk orders — there are a lot of things you can do to get CBD products for cheap. And don't forget, the cheapest option is to simply grow cannabis at home and extract CBD out of it.