Cannabidiol (CBD) products are among the most popular new dietary supplements in the United States. People use CBD products for everything from sleep and anxiety to pain and inflammation. Studies have even proven CBD to be a treatment for some epileptic seizures.
CBD is derived from either the hemp plant or marijuana plant, which are both cannabis plants. The difference is that CBD extracted from hemp contains no tetrahydrocannabinol (THC), which is the chemical compound that makes you feel “high.” On the other hand, CBD products made from marijuana can still come in low-THC or no-THC formulas.
With all of the various CBD products, such as CBD oils, edibles, and topicals out there, and the price tag CBD carries, it’s no surprise that coupons and promotions are also popular, such as this CBDistillery coupon. So, why is CBD so expensive? Let’s take a closer look to find out.
CBD products are still new.
The biggest reason CBD is so expensive is simply due to how new it still is. First, you have to consider that hemp production was only legalized in 2018 with the passing of the Farm Bill. As a result, CBD prices are high due to some inflation. Not to mention, as CBD is still new, farmers and manufacturers need time to make the growing, packaging, and distribution processes more efficient. Until then, CBD will have a somewhat higher price tag.
Cannabis isn’t an easy crop to farm.
Granted, hemp and marijuana aren’t nicknamed “weed” for no reason. The cannabis plant is highly durable and can grow in less than conventional settings. However, that doesn’t make hemp farming easy. This plant requires around 140 to 170 days to mature enough for harvesting. Therefore, these plants take more time and labor to grow than conventional crops like corn, which is ready in about 120 days.
CBD costs a lot to manufacture.
Cannabidiol is expensive and difficult to extract from cannabis plants. It requires special machinery that isn’t yet readily available for an affordable price. In addition, these machines are still unique and sport a hefty price tag as a result. Not to mention, the extraction process can take some time. Both of these factors can drive the price of CBD up.
CBD is in high demand right now.
As we mentioned earlier, CBD products are pretty popular right now. The anecdotal evidence of its effectiveness in treating ailments like insomnia, chronic pain, inflammation, anxiety, and more has made this new product a staple in many homes around the United States. Unfortunately, this high demand for CBD and CBD products only drives the price up further, especially considering how new it is.
Laws and regulations only make the price go up.
Due to how recently CBD was legalized, there are still loads of laws and regulations surrounding this product. As a result, tons of fees and permits are required to grow, manufacture, distribute, and sell it. There are extra fees and taxes on every level of the creation of CBD products. The growers, manufacturers, distributors, and retail businesses have to make up for these fees in one way or another. So, they sell their CBD for a higher price.
Lab testing isn’t cheap.
To ensure only the authorized active ingredients are present, every CBD product sold must be lab-tested by a third party. These lab reports will show the specific cannabinoid content in each product. Lab testing is another expensive step for those manufacturing CBD. Therefore, it’s yet another expense they have to make up for to keep their business afloat by charging more for their CBD.
CBD is expensive today, but that should change with time.
CBD may be expensive due to its newness, fees, lab testing, and more. However, most of the factors we covered are only temporary. So, you can expect the cost of CBD to lower over the next several years. Then, once the newness wears off and growers, manufacturers, and distributors find more efficient ways to handle CBD, you’ll see the price become more affordable.
Always remember to consult your doctor before starting a new dietary supplement.
