AI Use in Packaging Seen Surging to Over $6 Billion by 2033
Value of artificial intelligence in global packaging will nearly triple in coming years
The use of artificial intelligence (AI) in the global packaging industry is projected to nearly triple in value, to $6.02 billion, by 2033. A new report from Future Market Insights pegs the current value of AI in packaging at $2.08 billion and predicts that will grow at a compounded annual growth rate of 11.2 percent over the next decade.
This follows a reported growth rate for AI in packaging of 5.6 percent between 2018 and 2022, according to FMI.
The fruits and vegetables sector increasingly embraces AI technologies to enhance the packaging process, it notes, adding that Asia-Pacific is projected to lead the global AI in packaging market by 2033.
The report describes AI in packaging as the use of advanced technologies such as machine learning and computer vision to improve various industry processes. It specifically cites the technology’s impact on quality control, since such systems help analyze images to detect defects in packaging materials. Artificial intelligence can enhance supply chain management, as well, by optimizing production and distribution processes based on historical sales data and market trends, and by reducing costs.
Enhancing Product Personalization
Future Market Insights notes that when using consumer preferences, market trends and product data, AI algorithms generate personalized packaging designs and recommend suitable materials.
FMI adds that strong demand for sustainable and smart packaging creates opportunities for AI-driven innovations such as temperature-sensitive labels, active monitoring systems and interactive packaging experiences, thereby enhancing consumer engagement and product safety.
The report identifies key trends such as predictive maintenance, quality assurance through computer vision, supply chain optimization, voice and image recognition for hands-free operations, and data analytics for insights into consumer behavior and operational efficiency.
That said, there remain numerous barriers to the broader adoption of AI, according to FMI, not the least of which is the high cost for smaller companies to implement it. The vast amounts of data that AI collects for training and decision-making make for significant data privacy and security concerns, as well. Companies with existing infrastructure may find integrating AI into their processes to be rather complex, and various ethical and legal aspects also need to be considered.
But given the potential benefits of incorporating artificial intelligence into packaging and other manufacturing operations, it seems certain that the technology will continue to make significant inroads.