A recent article from Food Navigator reports that a new study reveals the quality and consistency issues that are plaguing the CBD industry, are possibly due to a lack of regulation. This is an issue, especially with the growing CBD market and consumer expectations when purchasing products.
The study, conducted by Israeli-based Leafreport researchers, assesses 53 CBD brands and more than 3500 products. The researchers divided the products into categories, such as liquids, vapes, pet products, capsules, gummies, and tinctures. Then, the researchers calculated the average price per milligram of CBD, the common potency levels, and the highest and lowest priced brands. The researchers then used this data to calculate price gaps, reported Noa Gans to FoodNavigator. Gans is the head of product at Leafreport.
Gans continued that the research determined significant discrepancies between prices for similar products. The discrepancies ranged from 250% to 3,200%, depending upon the type of product. Gans also added that there is a lack of uniformity in terms of quality, concentrations, prices, or even labeling. A significant variation appears when it comes to price, and in potency with tinctures and CBD liquids.
Price disparities result from a number of factors, such as extraction methods, third-party testing costs, and farming methods, reported Gans. He also shared that there is also the issue of “weed greed,” which makes it difficult to determine whether a price premium is justified or not.
To help manage consumer expectations, it is imperative that consumers remain educated and research products before making a purchase.