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Shifting consumer demands, the growth of e-commerce, and the drive for sustainable packaging are just some of the trends and challenges AI can help address.
January 22, 2024
By: Steve Katz
Associate Editor
Artificial Intelligence – AI – has emerged as a potentially game-changing tool in the packaging industry. Shifting consumer demands, the growth of e-commerce, and the drive for sustainable packaging are just some of the trends and challenges AI can help address when it comes to label and packaging design. According to Towards Packaging, a consulting firm, globally, artificial intelligence in the packaging market is estimated to grow from $2,021.3 million in 2022 at 10.28% CAGR (2023-2032) to reach an estimated $5,375.28 million by 2032. The firm reports, “Packaging design is one of the leading industries where AI is having a significant impact. Packaging design has typically relied on the imagination and intuition of humans. To create unique and alluring packaging designs, AI algorithms are now being used to analyze vast amounts of data, including customer preferences, market trends, and brand guidelines. Designers can make better choices using AI-powered tools that simulate and visualize how the packaging will appear in various environments. This helps businesses create packaging that appeals to their target market while saving time and resources.” Another area of focus in the packaging market is cannabis, a topic covered in L&NW in great detail in recent years. Mordor Intelligence estimates the global cannabis packaging market is expected to witness a CAGR of 24.3% over the next five years, due to the legalization movement and the rising demand for both medical and recreational cannabis products. That all said, it’s high time to examine an instance of these two areas of growth coming together, and what can result when AI meets cannabis.
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