AI in Packaging Market to Surge at a CAGR of 29.3% through 2034 Amid Growing Adoption of Smart Packaging Solutions Worldwide

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Future Market Insights

23 Apr, 2024, 15:00 GMT

AI is revolutionizing packaging! Driven by efficiency and quality demands, AI tackles everything from quality control and custom designs to optimized supply chains. AI-powered supply chain management is the next big leap, boosting package safety with real-time tracking. Dive deeper! Download our sample report to see how AI is shaping the future of packaging.

NEWARK, Del., April 23, 2024 /PRNewswire/ -- According to Future Market Insights (FMI), the global AI in packaging market is estimated to be worth US$ 1,790.8 million in 2024. The market is expected to reach US$ 23,415.2 million by 2034. It is projected to surge at a CAGR of 29.3% from 2024 to 2034.

Download the Sample PDF report to explore key market insights and trends: https://www.futuremarketinsights.com/reports/sample/rep-gb-17403

AI is rapidly developing in packaging design, utilizing algorithms to analyze product specifications, industry trends, and consumer preferences. This technology is set to create aesthetically pleasing, practical, and economical packaging designs. AI also optimizes structural integrity and predicts consumer reactions to different packaging styles using machine learning techniques.

AI plays a crucial role in the packaging industry's quality control procedures, enabling faster and more accurate examination of products and materials, identifying flaws, ensuring legal compliance, and reducing waste. AI automates inspection duties, reducing the need for physical intervention and maintaining high product quality standards.

The packaging market is adopting AI technology for innovation, efficiency, and sustainability, offering companies opportunities for expansion and competitiveness. Machine learning, computer vision, and data analytics are being used to enhance packaging design, manufacturing, and distribution. As AI continues to develop, its influence on the packaging sector is expected to grow.

Key Takeaways from AI in the Packaging Market

  • The market is projected to surge at a CAGR of 29.3% from 2024 to 2034.
  • Based on capacity, the quality control and inspection segment is expected to rise at 29.0% CAGR by 2034.
  • Demand for AI in packaging in China is set to grow at 31.6% CAGR by 2034.
  • The AI in packaging market is projected to increase in Japan at a CAGR of 33.8% through 2034.
  • India is expected to rise at a CAGR of 39.6% during the forecast period.

 "AI is revolutionizing packaging operations by improving analytics, optimizing algorithms, and controlling design and quality. It predicts equipment faults, schedules repairs, and streamlines production. AI-driven supply chain management systems enable real-time inventory tracking, demand forecasting, and route optimization, boosting productivity and reducing costs."- says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.).

Competitive Landscape

Key AI solution providers in the packaging industry include Amazon Inc., IBM, Microsoft Corporation, GE Digital, Open AI, Midjourney Inc., Canva, Adobe, ABB Group, Cognex Corporation, and others. Leading companies actively invest in research and development to enhance their AI capabilities and offer innovative packaging solutions.

For instance,

  • In November 2021, ABB Robotics partnered with Zume to reduce their reliance on single-use plastics in their global continuous packaging production.
  • In October 2021, Schneider Electric Canada and OptiMach partnered to expand operational duties and provide customers with robotic and autonomous solutions.

Purchase now and gain full access to the AI in Packaging Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

AI in Packaging Market Report

Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global market for AI in the packaging Market, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals market growth projections on the AI in packaging based on technology (machine learning, computer vision, natural language processing, predictive analysis, others), application (quality control and inspection, packaging design and customization, supply chain optimization, smart packaging), end-use (food & beverage, healthcare, personal care & cosmetics, other industrial, consumer goods, e-commerce), and region.

About the Packaging Division at Future Market Insights (FMI)

The packaging division at Future Market Insights (FMI) provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights (FMI) has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

About the Author:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power. 

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics. 

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association. 

Explore FMI's Extensive Coverage in the Packaging Domain:

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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