Buzz Lightyear often is heard saying his popular catchphrase, “To infinity and beyond,” in the 1995 Pixar classic “Toy Story.” A reference to the toy’s misguided interpretation of the adventures of space exploration, the phrase has evolved to reference the infinite opportunities people can seek in life’s journey. In the consumable packaged goods (CPG) market, the emergence of a new category also can hold unlimited potential if marketed correctly. Today, that cannot be more true when it comes to growing acceptance of cannabis.

“In 2019, sales of legal cannabinoid-containing products in the U.S. generated between $12-$13 billion,” says Rick Maturo, associate director of client services for cannabis practice at New York-based Nielsen. “This includes sales of adult-use and medicinal marijuana products sold by licensed dispensaries, hemp-derived [cannabidiol] CBD products sold at brick-and-mortar retail, direct-to-consumer sales of hemp-derived CBD products from manufacturers online, and online hemp-CBD stores. This figure does not include sales of hemp used in textiles, industrial applications (e.g., ‘hemp-crete’), or sales of FDA-approved pharmaceuticals like Epidiolex.”