How CBD Oil Prices Have Changed From 2012 to Today
The use of CBD is becoming much more widespread and the price of CBD oil has reached record lows. With some of the stigma regarding CBD oil disappearing, we're starting to see the prices of CBD products going down as well. There’s the widespread availability of these products and a number of new studies are being published on the value of CBD ramping up manufacturing for these products worldwide. Here are some of the biggest changes in the industry and how CBD pricing has changed from 2012 up until today.
Mainstream CBD is Live
In 2012 CBD launched onto the scene as a mainstream product. In the early part of this year, there were virtually no results on the subject whatsoever, but CBD rose to prominence through a series of scientific research reports. In 2012 there was a comparison of various CBD products on the market with one main CBD oil that launched at a price of $90 per 100 mg of CBD. This was one of the first mainstream products of its time and the price of CBD has come down considerably since then.
Oil Prices Today Are 80% Less Expensive Than Any Product Produced in 2012
The price of CBD sits at 88% less than it was in the year 2012. There’s a number of conclusions that would explain the dramatic fall in price. In the year 2012, a 100 mg CBD product average for $90 whereas in the year 2019 a 1 ounce 1000 mg CBD product was being sold for $110.
With five times more CBD by volume, we can see that the overall price tag for CBD has fallen significantly over the years. Based on the price differences from 2012 to now, we see $.90 per milligram of CBD versus a price of $.11 per milligram today. The price of the overall bottle has not changed much but the verified quantity of the CBD oil is much better. Most products on the market today are tested and have a significantly higher amount of CBD. You could not find many products in the same potency back in 2012 because there was very little testing done on CBD products at this time. There are also several sizes of CBD products that you can get today including small 300 mg doses for around $50. The 1000 mg CBD oil products that are verified are often some of the best to pick up for their value of active ingredients for the price.
Getting The Best CBD Products
In order to make sure that you’re getting what you paid for, CBD oil prices will need to fit the bill as well. Looking for the cheapest option is never the best way to go. It’s fine to compare prices between CBD products but you’ll need to be suspicious of products that are priced at an abnormal level. Make sure that you're only buying products that are produced and verified with third-party lab testing. In order to verify the active ingredients inside, a lab testing scenario can work with you. There are countless products that are available online and there are unfortunately many snake oil products on the market that can seem attractive but be produced using low-quality ingredients.
Demand is up And Prices are Down
CBD saw a significant drop in price in the years 2014 and 2018 due to the farm bills which ensured that more people could grow hemp across the United States. Under these bills, it was possible to source hemp locally for CBD products because they could be legally grown. As most companies producing CBD products were sourcing from Europe, the growing standards were at the top of the market and the product was very expensive to acquire. US ground hemp is more readily available, it’s well tested and it’s much cheaper to produce CBD products from.
As more legalization efforts for CBD products open up, it’s likely that we will see the price of CBD products continue to fall over time. Contact us today for the best CBD!