Shopping Centers Market Size

Shopping Centers Market size was valued at USD 5.88 Trillion in 2023 and is poised to grow from USD 6.23 Trillion in 2024 to USD 9.86 Trillion by 2032, growing at a CAGR of 0.0592 during the forecast period (2025-2032).

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. '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.', '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.'

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.

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.

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.