- Dec 17, 2020
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How Much Is Cannabis Oil per Gram?
Wondering how much you will pay for cannabis oil per gram? You’ve come to the right place to find the answer to this question and many other interesting facts about the CBD market and the benefits of CBD.
The global CBD oil market has been thriving over the last couple of years. It seems like everybody is talking about this natural remedy, from social media posts to TV documentaries, medical specialists, and probably even some of your friends. This serious popularity has made the market boom lately.
Last year, the global CBD oil market was worth $414.7 million, and it is expected to grow to $3197.2 million by the end of 2026, meaning a compound annual growth rate (CAGR) of 33.5% during 2021 and 2026.
This natural botanical compound that is high in the compound of CBD, the second most common chemical found in the cannabis plant, is thought to have plenty of health benefits, including reducing pain and inflammation, help with depression and anxiety, or reduce seizure activity. In fact, the growth of the CBD market is highly attributed to the increase in demand for CBD oil in various B2B sectors such as pharmaceutical, food, health, and wellness but also increased demand among average consumers.
CBD oil- the numbers
Now, let’s talk about what you came here for: How much is cannabis oil per gram?
Things about CBD oil’s price aren’t really as straightforward as you may think. For curious newcomers to the CBD world, the price of this product might be raising some eyebrows. For example, the price of 30 milliliters bottle of CBD oil can cost anywhere between $30 to over $200, meaning that a gram of CBD oil can cost somewhere between $1 to $6,6. Now, these newcomers may be wondering how something so small cost so much and why its price can vary so widely.
Well, here’s where things get a bit more complicated. CBD oil can be pretty expensive to produce, and there can be plenty of added costs for various multiple formulas. What’s more, the potency of a bottle can also affect its price.
In general, CBD as bulk can have prices that range from $3 to$15 per gram. Yet, that’s just the chemical compound. Manufacturers also have to add production costs, materials, and labor to the final price of their product. So, it isn’t easy to make a general statement about what is a reasonable price to pay for a CBD product.
Yet, here’s the thing: the financial media outlet Benzinga found out that, across the US, we produce more hemp, another plant used for CBD extraction, than the market can feasibly process and consume. What’s more, it seems that this is one of the reasons why the cost of hemp has declined last year and has reached an all-time low in January this year.
Now, CBD can be derived from both cannabis and hemp plants. And, broadly speaking, whether this chemical compound is extracted from hemp or cannabis plant, the distinction is pretty much irrelevant. The compound is the same, no matter if it is coming from cannabis or hemp. So, with hemp prices declining lately, we may soon find cheaper CBD oil products as well.
Why are consumers paying premium prices for CBD oil?
As mentioned above, CBD oil is thought to have plenty of health benefits, being a potential treatment for a number of medical conditions. Consumers usually purchase CBD oil because it helps them manage affections like inflammation, pain, anxiety, stress, depression, muscle spasm, insomnia, nausea, vomiting, and plenty of other symptoms.
Now, the benefits of this natural remedy aren’t just a marketing scam. There are certain scientific studies that actually suggest that CBD oil can have the potential to help with plenty of medical conditions like epilepsy, anxiety and depression, pain, acne, and there’s also promising evidence that CBD oil might be an effective cancer treatment.
With that in mind, considering all the benefits this product can have, it’s pretty obvious why people don’t mind paying a little bit more for CBD oil.
If you are interested in buying and using CBD oil for your medical affection, make sure you consult with your doctor before starting a CBD oil regimen.