Shopping Centers Market Set to Transform Retail Landscape Globally from 2025–2032
Shopping centers are becoming increasingly common since they house various goods from vendors or retailers, including apparel stores, food stores, and much more. This is the main factor promoting market expansion. Additionally, shopping malls offer improved customer experiences by giving customers access to a variety of activities like new product releases, festivals, and events. A shopping center is a collection of numerous independent retailers housed in one or more buildings and serving as merchandisers. Visitors can travel from one unit to the next using connected walkways. Also, retail establishments and services typically serve a community or neighborhood.
Shopping Centers Market size was valued at USD 5849.97 billion in 2023 and is poised to grow from USD 6241.92 billion in 2024 to USD 10486.57 billion by 2032, growing at a CAGR of 6.7% during the forecast period (2025-2032).
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Customers can immediately look for a product of interest at a location where several shops are present or by exploring alternative stores, giving them convenient access and easy availability of numerous items and products. Retailers are currently offering ship-from-store options, luring customers into shopping malls and fuelling the market's expansion. A shopping center allows shoppers to look at various stores while just having to travel to one location. The advent of e-commerce platforms and online purchasing avenues is a further factor in the market's expansion. According to a poll, the top 10 malls in the globe saw a 42% decrease in foot traffic. The amount of money made at malls decreased.
Shopping Centers Market Segments Analysis:
Shopping Centers Market is segmented by Type, Ownership, Size and region.
Based on Type, the market is segmented into Neighborhood Centers, Community Centers, Regional Centers, Super-Regional Centers, Lifestyle Centers, Outlet Centers and Theme/Festival Centers.
Based on Ownership, the market is segmented into Publicly Owned and Privately Owned.
Based on Size, the market is segmented into Small (up to 100,000 sq. ft.), Medium (100,000 - 500,000 sq. ft.), Large (500,000 - 1,000,000 sq. ft.) and Mega (over 1,000,000 sq. ft.).
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Shopping Centers Market Key Players:
Simon Property Group (USA)
Brookfield Properties (Canada)
Unibail-Rodamco-Westfield (France)
The Macerich Company (USA)
Westfield Corporation (Australia)
Taubman Centers, Inc. (USA)
GGP Inc. (USA)
Kimco Realty Corporation (USA)
Regency Centers Corporation (USA)
British Land Company (UK)
Hammerson plc (UK)
Intu Properties plc (UK)
Klepierre (France)
Eurocommercial Properties (Netherlands)
Landsec (UK)
Scentre Group (Australia)
CapitaLand Mall Trust (Singapore)
Link REIT (Hong Kong)
China Resources Land Limited (China)
Wharf Real Estate Investment Company (Hong Kong)Shopping Centers Market Recent Developments:
In April 2024, Zara, the international fashion powerhouse under the Inditex umbrella, significantly increased its presence at Bullring & Grand Central. This move is part of the ongoing transformation of the Birmingham city centre destination, spearheaded by property management firm Hammerson.
In April 2024, Maya Capital LLP, a pan-European investment firm, finalised the purchase of a retail and showroom property located at 137-167 Fulham Road, London. This property, covering approximately 24,228 square feet, marks a notable expansion of Maya Capital’s portfolio in one of London’s most prestigious areas.
In April 2024, renowned developers and shopping centre owners Revelop acquired a key sub-regional shopping centre development site which is set to be the first new sub-regional development in Sydney in more than 20 years.
Shopping Centers Market Regional Insights:
North America dominated the market. This can be attributed to the local retail sector's escalating customer demand and development. The need for environmentally friendly shopping malls is growing rapidly in North America due to increased urbanization. Another element influencing the expansion of shopping centers in this region is their popularity as handy places to shop and find a wide range of goods.
Asia Pacific market is expected to grow at the fastest CAGR. The rising need for shopping complexes is to blame for the rise in middle-class spending power in China and India. Retailers also utilize biometrics and AI in shopping malls to draw customers and increase sales. The demand for shopping centers in the region is soaring due to Indians' rising standards of living, middle-class income growth, and willingness to save money.
FAQs: -
1. What are the sales, production, consumption, imports, and exports of the market (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
2. Who are the major manufacturers who dominate the world market?
3. What are their current capacity, production, sales, pricing, cost, gross, and revenue operating levels?
4. What are the market's risks and opportunities?
What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the Shopping Centers industry.
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Objectives of the Study:
• To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
• To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
• To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
• To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
• To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
• To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market
Looking ahead, the Shopping Centers Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The Shopping Centers Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.
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