Shopping Centers Market Global, Regional and Country Level Analysis By 2028

Shopping Centers Market Growth & Trends

The global shopping centers market size has been estimated to reach USD 7,797.36 billion by 2028 by advancing at a CAGR of 5.9% from 2022 to 2028, according to a new report by Grand View Research, Inc. The popularity of offering different products by various retailers under the same roof is driving the growth of the global market for shopping centers. In addition, a shopping center offers the best shopping experiences such as entertainment, festivals, new product launches, gatherings, and performances, which is another factor driving the market growth.

Gather more insights about the market drivers, restrains and growth of the Global Shopping Centers Market

Market Segmentation:

Grand View Research has segmented the global shopping centers market on the basis of product type (Apparel and Accessories, FMCG, Hardline and Softline, Diversified).

Based on Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

North America accounted for the highest market revenue share of over 46% in 2021.

This can be credited to the rising consumer demand and expansion of the regional retail industry. In North America, rapid urbanization is surging the demand for environment-friendly shopping malls. Shopping centers are popular because they are very convenient and provide a wide variety of products to choose from; this is another factor driving the growth of shopping centers in this region. Thus, the region is expected to grow at a significant CAGR during the forecast period.

Asia Pacific is forecast to register the highest CAGR of 6.7% from 2022 to 2028.

The increase in purchasing power of the middle-class population in China and India is attributed to the surge in demand for shopping centers. Additionally, retailers are adopting AI and biometrics in shopping centers to attract consumers and boost revenue. The growth in education level, middle-class income, standards of living, and willingness to spare money by Indians are surging the demand for shopping centers in the region, resulting in its expected fastest CAGR during the forecast period.

Browse through Grand View Research’s Clothing, Footwear & Accessories Industry Research Reports.

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Key Companies

The key players in the global shopping centers market include – Walmart Inc.; Amazon.com, Inc.; Costco Wholesale Corporation; Schwarz Group; The Kroger Co.; Walgreens Boots Alliance, Inc.; The Home Depot, Inc.; and Tesco PLC.

The market for shopping centers is characterized by the presence of established as well as new players. Major players operating in this market are undertaking mergers and acquisitions as their key strategies.

Market Share Insights

• June 2017: Amazon completes its acquisition of Whole Foods. The e-commerce juggernaut thus made a significant push into the grocery business. The acquisition suddenly has given Amazon a sprawling brick-and-mortar presence and access to well-heeled consumers.

Order a free sample PDF of the Shopping Centers Market Intelligence Study, published by Grand View Research.