USD 5.57 Trillion
Global Shopping Centers Market Size, Share, Growth Analysis, By Product(Apparel & Accessories, FMCG), By Type(Regional Malls, Neighborhood Centers) - Industry Forecast 2024-2031
Report ID:
SQMIG60G2001 |
Region:
Global |
Published Date: April, 2024
Pages:
176
|
Tables:
65 |
Figures:
78
Global Shopping Centers Market Insights
Global Shopping Centers Market size was valued at USD 5.57 Trillion in 2022 and is poised to grow from USD 5.90 Trillion in 2022 to USD 9.41 Trillion by 2031, at a CAGR of 6.0% during the forecast period (2024-2031).
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. 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.
US Shopping Centers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
FMCG
Fastest Growth
FMCG
Growth Rate
6.0% CAGR
Global Shopping Centers Market ($ Bn)
Country Share for North America Region (%)
Global Shopping Centers Market Size By Product ($ Bn)
Global Shopping Centers Market Size By Product (%)
To get more reports on the above market click here to Buy The Report
Global Shopping Centers Market Segmental Analysis
Global Shopping Centers Market is segmented on the basis of Product, type, and region. By Product, the Shopping Centers Market is divided into Apparel & Accessories, FMCG, Hard Line & Softline and Diversified. By Type, Shopping Centers Market is segmented into Regional Malls, Neighborhood Centers, Outlets Malls, Lifestyle Centers, Mixed-Use Development. By region, the Shopping Centers Market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Shopping Centers Market Analysis by Product
In 2021, the FMCG segment dominated the global market. Consumer demand for FMCG items is driven by growing digital connectivity in urban and rural locations. Moreover, changing lifestyles, increased access, and greater awareness are the main drivers of the consumer products market's expansion. The segment is growing as a result of an expanding global population, rising disposable income, increased consumption of daily necessities, packaged goods, and other factors. Also, a significant component that significantly boosts market income is the availability of a wide range of food products by different shops.
The apparel and accessories segment is expected to grow at the fastest CAGR. The segment's expansion is mostly fueled by increased consumer demand and the ease with which trendy items are made available by various shops. Another element contributing to the segmental expansion is the numerous stores' fantastic sales and low pricing throughout the holiday seasons at shopping malls. The market demand in this niche is rising as a result of the substantial expenditure on clothing and accessories by financially independent women worldwide.
Shopping Centers Market Analysis by Type
Regional malls are the dominant type of shopping centers in terms of market size and influence. They typically feature a large number of stores, anchored by one or more department stores, and offer a wide range of shopping, dining, and entertainment options. Regional malls are designed to attract shoppers from a broad geographic area and may serve as a destination for tourism.
The neighborhood centers segment is expected to grow at the fastest CAGR. They are smaller shopping centers, typically located in residential areas, with a focus on convenience and daily needs. They may feature supermarkets, pharmacies, banks, and other essential retailers and services.
Global Shopping Centers Market Size By Product, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Shopping Centers Market Regional Insights
North America dominated the global 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.
Global Shopping Centers Market Size By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Shopping Centers Market Dynamics
Shopping Centers Market Drivers
Changing consumer preferences
- A major driver of the global Shopping Centers market is the growth of changing consumer preferences. Consumers are looking for more than just a place to shop – they want an experience. As a result, shopping centers are evolving to include a wide range of entertainment, dining, and other amenities that offer a more comprehensive shopping experience.
Population growth
- Population growth is one of the key drivers of the global shopping centers market. With the world's population projected to reach nearly 10 billion by 2050, the demand for goods and services is expected to increase significantly, which will drive the growth of the shopping centers market.
Shopping Centers Market Restraints
Economic downturns
- The economic downturns can significantly impact the shopping centers market, with reduced consumer spending, investor confidence, and increased vacancy rates being some of the key challenges. However, shopping center operators can mitigate these challenges by offering differentiated experiences, focusing on sustainability, and leveraging technology to enhance the customer.
Saturation of the market
- In some markets, there may be a saturation of shopping centers, which can limit the growth of new developments. Oversupply of retail space can lead to increased competition, resulting in lower occupancy rates and rents.
Request Free Customization of this report to help us to meet your business objectives.
Global Shopping Centers Market Competitive Landscape
The existence of established and emerging players defines the shopping centers market. Mergers and acquisitions are the primary methods being used by the major companies in this sector. For instance, Amazon successfully completes the purchase of Whole Foods. As a result, the e-commerce behemoth made considerable inroads into the supermarket industry. Amazon now has a massive brick-and-mortar presence and access to wealthy customers thanks to the acquisition.
Shopping Centers Market Top Player’s Company Profiles
- Simon Property Group
- Westfield Corporation
- Unibail-Rodamco-Westfield
- Brookfield Property Partners
- Hammerson plc
- The Crown Estate
- GGP Inc.
- Ivanhoé Cambridge Inc.
- Kimco Realty Corporation
- Taubman Centers Inc.
- General Growth Properties Inc.
- The Macerich Company
- Mercialys
- Wanda Commercial Management Group Co. Ltd.
- ECE Projektmanagement G.m.b.H. & Co. KG
- Klépierre S.A.
- PREIT
- CBL & Associates Properties Inc.
- The Howard Hughes Corporation
- Retail Value Inc.
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.
Global Shopping Centers Key Market Trends
Emphasis on experience
- As consumers increasingly seek unique and engaging experiences, shopping centers are responding by offering a wider range of amenities and services to create a more immersive and enjoyable shopping experience. The emphasis on experience reflects a broader shift towards creating more immersive and enjoyable shopping environments that meet customers' evolving needs and preferences. By offering a wide range of amenities and services, shopping centers can create a more attractive and competitive offering in the global marketplace.
Global Shopping Centers Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Shopping Centers Market analysis, the market is driven by a number of key factors, including changing consumer preferences, population growth, and rising urbanization, among others. There are also a number of challenges and restraints that impact the market, including economic downturns, saturation, and the shift toward online shopping. Despite these trends and challenges, the global shopping centers market is expected to continue to grow in the coming years. Rising disposable incomes, urbanization, and a growing middle class in emerging economies will drive this growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.57 Trillion |
| Market size value in 2031 | USD 9.41 Trillion |
| Growth Rate | 6.0% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Trillion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Shopping Centers Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Shopping Centers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Shopping Centers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Shopping Centers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Shopping Centers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Shopping Centers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Shopping Centers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Shopping Centers Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
