NEWARK, Del, June 14, 2023 (GLOBE NEWSWIRE) -- The artificial intelligence (AI) in packaging market is projected to reach a value of US$ 2,080.8 million in 2023 and is expected to grow to US$ 6,015.6 million by 2033. The sales of AI in packaging are forecasted to have a significant compound annual growth rate (CAGR) of 11.20% during the forecast period.
AI in packaging refers to the use of advanced technologies like machine learning and computer vision to improve various processes in the packaging industry.
AI systems can analyze images to detect defects in packaging materials, ensuring high-quality products reach the market. It also aids in supply chain management by optimizing production and distribution processes based on historical sales data and market trends, reducing costs and stockouts.
AI algorithms can generate personalized packaging designs and recommend suitable materials based on consumer preferences, market trends, and product data.
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The demand for smart and sustainable packaging has created opportunities for AI-driven innovations such as active monitoring systems, temperature-sensitive labels, and interactive packaging experiences, enhancing product safety and consumer engagement.
Key trends in AI in packaging include 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.
However, several barriers exist in the market. High implementation costs can hinder smaller companies from adopting AI in packaging.
Data privacy and security concerns need to be addressed to ensure the protection of sensitive information. Integrating AI technologies with existing infrastructure can be complex and pose a challenge for companies with established systems. Ethical and legal considerations, such as bias in AI algorithms and the impact on human labor, need to be carefully addressed.
Machine learning holds a value share of 48.8% in the global AI in the packaging market, playing a crucial role in improving performance and predicting maintenance needs.
The fruits and vegetables segment is expected to acquire a value share of 43.9% in 2022, with AI being increasingly adopted to assess quality, automate sorting and grading, and optimize packaging materials.
The United States captured a major market share of 11.5% in 2022, leveraging its advanced technological infrastructure and research capabilities to drive AI adoption in packaging.
Germany holds 3.7% of the European AI in packaging market share, utilizing AI to enhance packaging processes, improve efficiency, and optimize operations and logistics.
India is emerging as a prominent player in the AI in packaging market, with a transformative compound annual growth rate (CAGR) of 11.6%. AI is being leveraged in India to streamline processes, improve efficiency, and create personalized packaging solutions.
Latest Development:
- Siemens and Mentor Graphics: In 2016, Siemens, a global technology conglomerate, acquired Mentor Graphics, a company specializing in electronic design automation. This collaboration aimed to leverage AI and machine learning technologies to enhance packaging design and manufacturing processes.
- IBM and Xerox: In 2019, IBM and Xerox announced a collaboration to develop an AI-driven intelligent packaging solution. This joint effort focused on using AI algorithms to optimize packaging designs, improve supply chain efficiency, and enhance customer experiences.
- Microsoft and Tetra Pak: In 2020, Microsoft partnered with Tetra Pak, a leading packaging solutions company, to explore the application of AI, IoT, and cloud technologies in the packaging industry. The collaboration aimed to improve supply chain visibility, enable predictive maintenance, and enhance sustainability in packaging operations.
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Key Companies Profiled:
- Amcor plc
- Constantia Flexibles GmbH
- Sonoco Products Company
- Winpak Ltd.
- West Rock Company
- Honeywell International, Inc
- Uflex Ltd
- Tekni-Plex, Inc
- ACG Pharmapack Pvt. Ltd.
- Klockner Pentaplast Group
- SteriPack Group
Key Segments Covered in this Market Report:
By Technology Type:
- Machine Learning
- Computer Vision
- Natural Language Processing (NLP)
- Predictive Analytics
By Application:
- Quality Control and Inspection
- Packaging Design and Customization
- Supply Chain Optimization
- Smart Packaging
By End Use:
- Food & Beverage
- Healthcare
- Personal Care & Cosmetics
- Other Industrial
- Consumer Goods
- E-commerce & Retail
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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Table of Content (ToC):
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033
5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology
6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use
8. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9. North America Analysis 2018 to 2022 and Forecast 2023 to 2033
10. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033
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Explore Trending Reports of Packaging domain:
Protective Packaging Market Outlook: Protective packaging, as the name suggests, is designed for protecting products during warehousing or shipping. As these processes are underway, products, particularly fragile items, are prone to damage. This is where protective packaging can be effective in providing sufficient buffering to products to prevent them from sustaining damage or destruction.
Next Generation Packaging Market Analysis: The global next-generation packaging market is anticipated to grow significantly during the forecast period, mainly due to the growing geriatric population, advancements in packaging material, and the rising need for a sustainable packaging technique.
Thermoform Packaging Market Growth: Future Market Insights estimates that the thermoform packaging market rose at a CAGR of 5.5% from US$ 33.500 Million in 2018 to US$ 41.500 Million in 2022. Due to the rising demand for thermoform packaging in the food and beverage and pharmaceutical industries, the market witnessed substantial growth from 2018 to 2022.
Personalized Packaging Market Demand: Demand for personalized packaging has expanded as a result of the tremendous applications from different industries. For the purpose of improving the consumer impression of their brand, manufacturers are utilizing personalized packaging frequently.
Confectionery Packaging Market Sales: The sales of confectionery packaging registered a Y-o-Y growth of 4.4% in 2022 over 2021 reaching US$ 10.9 billion. The chocolate confectionery segment followed by the sugar confectionery segment held around 89% of the market value share in 2022.
Parenteral Packaging Market Share: The parenteral packaging market is anticipated to witness a positive growth trajectory, however, several factors such as instability in the price of raw materials and limited availability of raw materials are expected to hinder the growth of the parenteral packaging market. Additionally, the complex registration process of packaging is likely to be a constraint in the parenteral packaging market expansion.
Electrostatic Discharge (ESD) Packaging Market Size: ESD packaging is also a good concept in electronics as integrated circuits are made of semiconductor materials like silicon and insulating materials that might be damaged by high voltages. To avoid this issue, integrated circuit producers and users must take precautions like using appropriate packaging materials and printing techniques.
Digital Printing Packaging Market Volume: The demand for digital printing packaging is growing due to its capacity to produce short print runs economically. Printing on demand is helping to reduce waste which ensures that changes in new packaging and graphic designs would not result in unused stock.
Temperature Controlled Packaging Solutions Market Value: The overall outlook for the temperature-controlled packaging solutions market is expected to remain positive. The market is projected to register a CAGR of 8.1% through 2030 to reach US$ 23.2 Billion by the end of the forecast period. Rising consumption of frozen food/fruits translates into increased sales of insulated containers, thus boosting the revenues of players in the global temperature-controlled packaging solutions market.
Intelligent Packaging Market Innovation: Intelligent packaging has become a fascinating new trend for packaging manufacturers, designs, brands, and consumers alike. It allows end users to communicate the conditions of packaged products. Hence, they help in minimizing the risk of spoilage of sensitive products.
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