High Demand for CBD Products Drives Prices Down While Quality Rises

Most people are aware of the benefits of using cannabidiol (CBD) oil. Cannabidiol products have been popular for many years among people who rely on its therapeutic benefits for daily activities. However, the high price tag on these products puts them out of reach for a certain subset of consumers.

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Thanks to several factors that will be addressed in this article, CBD products — including oils, tinctures, salves, and CBD gummies — are cheaper than ever.

CBD demand is rising

The global demand for CBD-infused products is rising following the legalization of hemp and marijuana in many localities. For example, several U.S. states have legalized medical and recreational marijuana including Colorado and Washington. However, California maintains only medical legalization.

While CBD is not psychoactive like THC, the state-level legalization of marijuana has paved the way for an increase in demand for CBD. Since CBD can be derived from hemp, once marijuana was medically legalized, people became more open to learning about CBD. Many have been pleasantly surprised to learn that you can’t get high from CBD.

Before states began legalizing hemp and marijuana, CBD was viewed incorrectly as a psychoactive substance, but there are no psychoactive properties in CBD. CBD can be derived from both hemp and marijuana plants, but only hemp-derived CBD is legal across the United States. Hemp-derived CBD must contain less than 0.3% THC by law.

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The delivery method matters

When CBD first entered the market, it was generally only available as an oil. Not many people liked the idea of putting drops of oil directly into their mouths or mixing it with water. CBD oil mixed in water is tolerable for some, but many can’t handle the flavor or texture. CBD really caught on when other delivery methods were introduced.

Perhaps the most popular cannabidiol delivery method is through gummies. Gummies are tasty, slightly sweet, and enjoyable to consume compared to swallowing a cup of water mixed with oil. They’re also easy to carry around to consume virtually anywhere.

High demand holds manufacturers to high standards

The high demand for cannabidiol oil products has created some good competition in the marketplace that is keeping prices low and also forcing manufacturers to produce high-quality products. Whenever a high-quality source of CBD is available, consumers will become loyal to that company because they won’t have to worry or wonder if they’re getting a superior product.

Soft, chewable CBD gummies from Hemp Bombs, for example, are one of the highest quality cannabidiol products you’ll find. Unlike other companies, Hemp Bombs tests every batch from every product type to ensure their products consistently meet high standards. If a batch doesn’t meet the company’s standards, that batch won’t be sold to the public.

With the potential for inferior products, consumers want to know their product contains all of the beneficial CBD they expect and none of the unwanted substances. For example, lab results should show levels of cannabidiol, THC, and terpenes, as well as unwanted substances like pesticides, solvents, yeast, mold, and bacteria.

Reliable manufacturers will make all lab results available for download on their website for free for every batch they produce. If you can’t get lab results either on a company’s website or by special request, it’s probably not a product worth trying.

Although some companies will produce lab results upon request, consumers should be cautious about any company unwilling to display lab results for each product batch publicly. Lab result forms provided as partial screen shots rather than full lab reports should be looked at with scrutiny. You should be able to see the lab’s full name in case you’d like to call and verify they are a legitimate lab.

Passing the 2018 Farm Bill contributed to lower prices

The 2018 Farm Bill removed hemp from the list of scheduled substances, making hemp legal to cultivate for any use, including extracting CBD. This legalization has greatly increased the number of CBD products available. Existing businesses have ramped up production and new businesses are entering the market.

The global market for CBD is expected to continue growing

Hemp and CBD companies around the world are rapidly growing to meet consumer demands for CBD-infused products. Many experts have forecasted a bright future for companies producing cannabidiol products both for consumption and topical use.

As more people discover this wonderful substance, we’ll see more companies enter the market, which will continue to drive demand while keeping prices reasonable.