According to recent studies, the CBD market is still growing rapidly. The marketcan be expected to reach a value of an astonishing $20 billion as soon as 2024. With figures like that in mind, it’s definitely an interesting time to enter the industry. That’s why thousands of businesses across the country have begun to sell their own CBD oil.
A small percentage of these businesses have decided to manufacture their own CBD products from scratch. While this approach certainly carries with it certain benefits, it also tends to be a prohibitively expensive option for most small businesses. A much more manageable (and affordable) option is to buy CBD bulk. Working with a reputable distributor can give you access to a variety of products that can be purchased for affordable prices.
In this article, we’ll discuss CBD prices and the cost benefits of buying in bulk.
Understanding CBD Prices
At first, many consumers and aspiring CBD vendors are taken aback by how expensive it is to buy high-quality CBD products. At its current market value, the average cost to buy retail CBD products in the United States is around $0.15 per milligram. That means that for the average tincture bottle containing 500 milligrams of CBD, consumers should expect to pay around $75.00.
But why are prices so high? At this point in time, CBD is still an expensive and difficult product to grow, process, and extract. Rest assured, this process will almost certainly become more streamlined and affordable in the years to come. For the time being, however, manufacturers are forced to mark up the cost of CBD oil in order to cover their own overhead costs.
The Benefits of Buying CBD Bulk
Buying wholesale CBD bulk from a reputable manufacturer is a fantastic option for retailers who are looking to cut back on expenses. It can also save you a fair bit of time, energy, and frustration.
Plus, it gives you the ability to sell a variety of products. When you purchase CBD isolate or oil in bulk, you have the opportunity to work with the raw material to create a wide variety of customized products, including:
- Topicals, lotions, and ointments
- Skin care products
- Edibles and beverages
And, most significantly, buying CBD bulk will allow you to sidestep the price markups that come along with finalized retail products.
Work with the Nation’s Leading Bulk CBD Provider
Hemp Depot is your one-stop-shop for all things bulk CBD. Our world-class experts, facilities, and delivery services can provide your small CBD businesses with everything you need to be successful in a competitive industry. Start shopping for bulk CBD oil today by contacting our office!