Global Shopping Centers Market Forecast To Reach $8216.44 Billion By 2029 With 7.0% Annual Growth

The Business Research Company

The Business Research Company’s Shopping Centers Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, May 20, 2025 /EINPresswire.com/ -- The global shopping centers market witnessed significant growth in recent years and is predicted to rise from $5849.97 billion in 2024 to $6276.84 billion in 2025, with a compound annual growth rate CAGR of 7.3%. Factors contributing to this growth include the rise of automobiles, suburbanization, increased focus on entertainment and leisure, population growth, improving living standards, and burgeoning middle-class income.

What Does The Report Forecast For The Shopping Centers Market?
According to forecasts, the shopping center market size is poised for robust growth in the coming years, set to reach $8216.44 billion in 2029, tracking a CAGR of 7.0%. This projected expansion can be attributed to the rising consumption of daily necessities, increase in purchasing power, growing digital connectivity, the swell in the number of financially independent women, and increasing expenditure on fashionable apparel. Future trends for shopping centers, such as the integration of artificial intelligence, the adoption of digital transformation, mixed-use developments, product development to maximize the market share, and an enhanced focus on health and safety, are expected to shape the sector in the years to come.

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What's Powering The Shopping Centers Market Forward?
The increasing spending on fashionable apparel is expected to catalyze the growth of the shopping centers market. Fashionable apparel refers to trendy and stylish clothing and accessories that align with the latest fashion trends. The rise in expenditure on fashionable apparel can be attributed to growing disposable incomes, social media influence and celebrity endorsements, the availability of fast fashion, and shifting consumer preferences. Shopping centers have become centralized hubs for fashionable apparel, featuring a wide range of fashion retailers, from high-end boutiques to mainstream brands, offering trendy clothing, accessories, and footwear.

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Who Dominates The Shopping Centers Market?
Major companies operating in the shopping centers market include Walmart Inc., Amazon Inc., The Home Depot Inc., Kroger Company, Tesco plc, Brookfield Property Partners L.P., Simon Property Group Inc., Unibail-Rodamco-Westfield SE, Taubman Centers Inc., Kimco Realty Corporation, Tripadvisor Inc., Klépierre S.A., Macerich, CBL & Associates Properties Inc., Pennsylvania Real Estate Investment Trust, Mercialys SA, ECE Group GmbH & Co. KG, Hammerson plc, Ivanhoé Cambridge Inc, and Sunshine Shopping Center Co. Ltd.

Which Technological Advancements Are Impacting The Shopping Centers Market?
In a bid to maintain their competitive advantage, significant companies are focusing on emerging innovative technologies, such as advanced computer vision technology, aiming to provide a checkout-free shopping experience. This cutting-edge technology leverages artificial intelligence and machine learning to enable computers to comprehend visual information from the world, including images and videos, thus facilitating tasks like object detection, facial recognition, and scene understanding.

How Is The Shopping Centers Market Segmented?
The shopping centers market as covered in the report is segmented as follows –
1 By Type: Regional Malls, Neighborhood Centers, Outlet Malls, Lifestyle Centers, Mixed Use Development
2 By Product: Apparel And Accessories, Fast Moving Consumer Goods FMCG, Hardline And Softline, Diversified
3 By Tenant: Retail Stores, Restaurants, Entertainment Venues, Other Tenants

Subsegments:
1 By Regional Malls: Super-Regional Malls, Community Malls
2 By Neighborhood Centers: Convenience Centers, Strip Malls
3 By Outlet Malls: Factory Outlet Malls, Designer Outlet Malls
4 By Lifestyle Centers: Open-Air Lifestyle Centers, Urban Lifestyle Centers

What Does The Regional Landscape of Shopping Centers Market Look Like?
As of 2024, North America emerged as the largest regional shopping center market. However, Asia-Pacific is poised to register the fastest growth during the forecast period. The market report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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