Insight · Footwear market · Global & Europe
Which sports shoe brands are winning worldwide? Nike is still the biggest by far, but Anta, New Balance, ASICS, On and HOKA grow by 13 to 30% a year and take share. Here are the global revenues, the shares and the latest European figures.
By Marcel Melzig · First published 28 February 2025 · Updated 8 November 2026
| Brand | Revenue | In US$ | Share | Change | Growth | Period |
|---|---|---|---|---|---|---|
| Nike | $46.4bn | $46.4bn | 38.6% | −1.5 pp | flat | FY to May 2026 |
| adidas | €24.8bn | $28.0bn | 23.3% | +0.2 pp | +4.8% | 2025 |
| Anta Group (incl. Fila) | RMB 80.2bn | $11.2bn | 9.3% | +0.8 pp | +13.3% | 2025 |
| New Balance | $9.2bn | $9.2bn | 7.6% | +1.0 pp | +19% | 2025 |
| Puma | €7.9bn | $8.9bn | 7.4% | −1.5 pp | −13.1% | 2025 |
| ASICS | ¥810.9bn | $5.4bn | 4.5% | +0.6 pp | +19.5% | 2025 |
| Under Armour | $5.0bn | $5.0bn | 4.1% | −0.3 pp | −3.8% | FY to Mar 2026 |
| On | CHF 3.0bn | $3.6bn | 3.0% | +0.6 pp | +30% | 2025 |
| HOKA | $2.6bn | $2.6bn | 2.1% | +0.2 pp | +15.9% | FY to Mar 2026 |
Share = share of the nine brands' combined revenue, not of the total footwear market. Total company revenue including apparel; Anta Group includes Fila China, Descente and Kolon Sport; HOKA = brand sales within Deckers. Converted at 2025 average ECB reference rates (EUR/USD 1.13, EUR/JPY 169.07, EUR/CHF 0.937, EUR/CNY 8.118); share change vs. the prior year at constant exchange rates. Growth as reported; currency-neutral: adidas +13%, Nike −2%, Puma −8.1%, Under Armour −5%, On +35.6%. Skechers (2024: $9.0bn) has not published figures since its take-private by 3G Capital in 2025 and is not included.
Nike is still by far the largest brand: its revenue is about five times that of New Balance and well ahead of adidas. But share moves at the margin. When the specialists grow by 15 to 30% in a running market that grew around 10% in 2025 (Circana), and the leader is flat, the leader loses share. In one year Nike gave up 1.5 points among these nine brands, Puma 1.5 and Under Armour 0.3. New Balance (+1.0), Anta (+0.8), ASICS (+0.6), On (+0.6), HOKA (+0.2) and adidas (+0.2) took them. Anta Group is now the world's third-largest sports brand group, mostly on the strength of China, Fila and its smaller premium brands.
The momentum continues in 2026: ASICS grew 35.9% in Q2 2026 and raised its full-year target to ¥1.05 trillion, On grew 21.6% at constant currency in Q2 2026, adidas grew 7% currency-neutral in Q3 2026. Nike's revenue fell 4% in June to August 2026 and Nike expects a high single-digit decline for the full year. HOKA slowed to +6.8% in July to September 2026, and Deckers guides to high single-digit HOKA growth for the year to March 2027.
| Brand | Growth | Region and period |
|---|---|---|
| ASICS | +32.9% | EMEA excl. Onitsuka Tiger, Q2 2026 (Europe full year 2025: +25.9% to ¥225.8bn) |
| New Balance | +30% or more | Europe, full year 2025 |
| On | +15.4% | EMEA, Q2 2026 (+20.5% constant currency, CHF 228.2m) |
| adidas | −4% | Europe, currency-neutral, Q3 2026 – the only region that declined |
| Nike | −4.7% | EMEA, June–August 2026 ($3.18bn); EMEA footwear −11.0% |
HOKA (Deckers) and Puma do not report a growth figure for Europe. Deckers' international sales, mostly HOKA and UGG, grew 26.8% in the year to March 2026.
ASICS is the clearest winner in Europe: it leads performance running in France, Germany, Italy, Spain and the UK (Circana data cited by ASICS, 12 months to June 2026), and its wholesale business in EMEA grew 44.1% in Q2 2026, a sign that retailers give it more space. New Balance grew faster in Europe than in North America in 2025. On keeps growing in EMEA and pushes its own stores. adidas grew double digits in every region except Europe in Q3 2026; CEO Bjørn Gulden expects Europe to return to growth. Nike lost 11% of its EMEA footwear revenue in its latest quarter.
What is HOKA's market share? Deckers does not publish a market share. HOKA's brand sales grew 15.9% to $2.6 billion in the year to March 2026, about 2.1% of the combined revenue of the nine brands above, up 0.2 points. Growth slowed to 6.8% in July to September 2026; Deckers expects high single-digit growth for the year to March 2027.
What is ASICS' market share? ASICS does not publish a global share either. Its net sales grew 19.5% to ¥810.9 billion (about $5.4 billion) in 2025, 4.5% of the nine brands' combined revenue, and it leads performance running in Europe's five biggest markets.
Is Nike or adidas bigger? Nike, by far: $46.4 billion against about $28 billion for adidas. But adidas grew 13% currency-neutral in 2025 while Nike shrank and then stagnated. In Europe both declined in their latest quarter.
Which sports shoe brand is growing fastest? Among the large listed brands, On: +30% in 2025 (+35.6% currency-neutral) to CHF 3.0 billion.
Correction: The February 2025 version of this article listed European market shares for 2024 (Nike 30%, adidas 20%, New Balance 15%, ASICS 10%, HOKA 8%, On 5%). These were rough estimates without a verifiable source and have been removed. This version only uses reported figures.
Marcel Melzig · Brand & commercial strategy · sportswear & luxury. Turning brand and channel signals into commercial decisions. Based in Germany.
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