A shocking report has found that the prices of a number of CBD products have risen significantly over the last year in the United States.
According to the study published by Leafreport, the CBD industry’s peer-reviewed watchdog website, while the high cost doesn’t equate to better quality, there was a 6,242% price increase between the cheapest and most expensive CBD brands in the same category since last April’s report.
Every six months Leafreport compare the prices of over 3,000 CBD products from more than 100 brands.
For each and every product, they recorded the price as of November 2021 then divided it by the milligrams of CBD present in the product to reach our standardised pricing reference point: the price in USD per milligram of CBD.
While in general, CBD prices have decreased from $0.122 per milligram of CBD to $0.12, the most significant price difference is evident in the creams and topicals category, which has a staggering difference of 11,142% separating the most expensive products from the cheapest. In April 2021, the difference was 4718%.
Key findings for each product category
- Full and broad-spectrum tincture
Average price $0.09 per milligram of CBD
Difference between highest and lowest product prices: 1834%
- Gummies
Average price $0.09 per milligram of CBD
Difference between highest and lowest product prices: 833%
- Capsules
Average price $0.09 per milligram of CBD
Difference between highest and lowest product prices: 1175%
- Topicals and creams
Average price $0.2 per milligram of CBD
Difference between highest and lowest product prices: 11142%
- Isolate
Average price $0.02 per milligram of CBD
Difference between highest and lowest product prices: 2185%
- Isolate tinctures
Average price $0.08 per milligram of CBD
Difference between highest and lowest product prices: 2050%
- Pet edibles
Average price $0.21 per milligram of CBD
Difference between highest and lowest product prices: 1483%
- Pet tinctures
Average price $0.12 per milligram of CBD
Difference between highest and lowest product prices: 858%
- Liquids and vapes
Average price $0.12 per milligram of CBD
Difference between highest and lowest product prices: 1333%
- Edibles
Average price $0.17 per milligram of CBD
Difference between highest and lowest product prices: 5100%
- Other
Average price $0.17 per milligram of CBD
Difference between highest and lowest product prices: 8451%
Why is there such a sudden and shocking rise in pricing? Well, the answer is simple: the difference between practices is immense.
Laura Fuentes, Chief Officer of Science and Innovation at Green Roads CBD, said: “Companies like Green Roads that spend heavily on top-quality raw materials, independent testing, and other best practices, will naturally be more expensive than other brands that skip those steps – and expense – completely.
“If you review the pricing on all the top players in the industry, the pricing gap isn’t that big because most follow the same production process and have similar costs.
“The gap starts showing when companies who fly under the radar and don’t follow generally accepted manufacturing procedures turn up with lower prices – consumers should be wary of pricing that seems too good to be true.”
