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Road, track and gravel: the business of running
From performance footwear battlegrounds to community-led race formats, running is the sporting goods industry’s most competitive category. SGI Europe tracks brand strategies, product innovation, participation dynamics, and the commercial drivers reshaping the world of running.
In this page
Running Reloaded Market Analysis | State of Play: Participation data | Brand Radar | Product Launches | Running Ecosystem & Race Formats
LATEST
Running footwear sales climb 13% as US market stalls
US footwear sales inched up 1 percent in H1 2026, but running shoes grew 13 times faster.
Amer Sports raises guidance again on Wilson swing
Running and sportstyle keep pulling Salomon forward while Wilson’s rackets nearly doubled the quarter’s growth rate to 24%.
Running State of Play 2026
Nearly a third of runners started during the pandemic, motivated by health not competition – they are reshaping the sport
MORE
FOOTWEAR 2026
Athletic footwear market at a glance
Global market size and growth, 2025–2026
$145.5B
Global market size (2025)
+5.0%
Global growth, 2025–2026
24.55%
Europe’s share of global market (2025)
+4.5%
Europe growth, 2025–2026
~43%
Top 5 brand share
Nike, adidas, PUMA,
New Balance, Under Armour
Nike, adidas, PUMA,
New Balance, Under Armour
Source: Fortune Business Insights, Athletic Footwear Market report (accessed August 2026). Top 5 brand share reflects Nike, adidas, PUMA, New Balance Athletics and Under Armour combined; Fortune Business Insights does not publish a Nike+adidas-only breakdown.
SPORT PARTICIPATION
Running State of Play 2026
Nearly a third of runners started during the pandemic, motivated by health not competition – they are reshaping the sport
PARTICIPATION
Marathon Majors at a glance
Field size and finishers, most recent year available
Field size / finishers
Record (largest marathon ever)
London Marathon
59,830
New York City Marathon
59,226
Chicago Marathon
55,000
Berlin Marathon
54,166
Tokyo Marathon
38,500
Sydney Marathon
32,963
Boston Marathon
32,196
Bar length proportional to value. Figures mix field size and confirmed finishers: Tokyo (participant places, 2026) and Chicago (participant field, 2026) are places available, not confirmed finishers; Boston (2026) is entrants; Berlin (2024), New York (2025), Sydney (2025) and London (2026) are confirmed finishers. London set a Guinness World Record for the largest marathon ever. Sources: Tokyo Marathon Foundation; BAA.org; BMW Berlin Marathon Media Guide; Bank of America Chicago Marathon; NYRR Media Center; tcssydneymarathon.com; Guinness World Records, April 2026.
RUNNING MARKET
Running reloaded: These shoe brands race ahead of the rest
The running shoe market is undergoing a shake-up – and lifestyle is becoming a key to success.
RUNNING RELOADED
Who’s biggest in running? Brand revenue compared
Running-specific business unit revenue, most recent fiscal year (€)
Company-reported
Analyst / industry estimate
Nike Running*
€3.80bn
On Running
€3.15bn
HOKA (Deckers)
€2.27bn
Asics – Performance Running
€2.15bn
Brooks Running*
€1.40bn
Saucony (Wolverine)
€507m
Mizuno – Running
€147m
*Nike does not disclose Running category revenue; figure is a BNP Paribas analyst estimate (trailing four quarters to mid-2026), cited via WWD, July 2026. *Brooks Running (Berkshire Hathaway) does not publish official financials; figure is a trade-press estimate (SGI Europe, Sportswear International) derived from the brand’s reported 16% 2025 growth rate — Bloomberg has separately reported Brooks is “headed toward $2 billion,” so treat this as directional, not exact.
Company-reported figures and fiscal periods: On Holding AG, FY2025 (year ended Dec. 31, 2025), press release and Form 20-F, March 3, 2026. Deckers Brands, HOKA brand, FY2026 (year ended March 31, 2026), earnings release, May 21, 2026. Asics Corporation, Performance Running category, FY2025 (year ended Dec. 31, 2025), investor relations, Feb. 13, 2026. Wolverine Worldwide, Saucony brand, FY2025 (year ended Jan. 3, 2026), earnings release, Feb. 26, 2026. Mizuno Corporation, Running category, FY ended March 31, 2026, investor relations, May 12, 2026. Figures converted to EUR at approximate rates from each period; fiscal year ends differ by brand and are not perfectly comparable.
Company-reported figures and fiscal periods: On Holding AG, FY2025 (year ended Dec. 31, 2025), press release and Form 20-F, March 3, 2026. Deckers Brands, HOKA brand, FY2026 (year ended March 31, 2026), earnings release, May 21, 2026. Asics Corporation, Performance Running category, FY2025 (year ended Dec. 31, 2025), investor relations, Feb. 13, 2026. Wolverine Worldwide, Saucony brand, FY2025 (year ended Jan. 3, 2026), earnings release, Feb. 26, 2026. Mizuno Corporation, Running category, FY ended March 31, 2026, investor relations, May 12, 2026. Figures converted to EUR at approximate rates from each period; fiscal year ends differ by brand and are not perfectly comparable.
BRANDS
The rise of Indonesia’s local running shoe brands
Local brands control more than a third of Indonesia’s online running shoe sales, undercutting global competitors on price.
Boost to come for Brooks after Kerr’s run?
Brooks joins Nike, adidas and HOKA treating record bids as marketing events.
HOKA names pop singer Hou Minghao as China ambassador
HOKA leans on entertainment reach to compete for younger Chinese runners.
Brooks Running signs first NZ Team footwear deal
The multi-year deal covers ceremonies, podiums and Villages from Glasgow 2026 through LA28.
Inside Saucony’s marketing: community, not celebrity
Run as One, The Maze and Hood to Coast China’s Victory Team share one message: community over podiums
Arda Saatçi’s: how to miss a goal and set a record
When Arda Saatçi missed his target, his sponsors Red Bull and Brooks Running didn’t flinch. 59 million viewers later, it’s clear why.
Boston Marathon: a battle of words, not only of runners
A misread campaign at marathon’s most visible address exposed Nike’s vulnerabilities – and gave Asics an opportunistic opening.
“A love letter to the run”: Brooks and Cynthia Erivo
Brooks is leaning into a culture-first marathon activation to reach new runners beyond its core, led by a compelling running testimonial.
PRODUCTS
ASICS trail shoes back its raised guidance
Two new trail shoes reinforce the running growth behind ASICS’ raised full-year forecast.
FP Movement, ASICS launch debut footwear collaboration
ASICS’ first joint run-tennis release uses a lifestyle brand to extend beyond performance retail.
Nike Radical AirFlow apparel expands globally
A trail-born ventilation platform reaches shelves worldwide and debuts on elite track athletes at the Prefontaine Classic.
Satisfy’s new gear cools you the harder you sweat
Satisfy’s HeatCrush fabric claims to cool runners more as effort rises, launched with a 15-minute Atacama film.
Gravel running becomes brands’ new growth strategy
Salomon describes gravel as a gateway to new consumers, and Nike, Craft and HOKA are following it into the category.
While rivals go pink, New Balance goes neon
From neon boots to heat-reactive Stone Island cleats, New Balance turns color into its main World Cup storyline.
On uses clarity to simplify retail and customer choice
On is counting on a simpler product story to ease retailers’ jobs and customer choice more than more launches would
Hyperboost goes from track to street, cushion first
The Euphoria carries Hyperboost cushioning off the track and onto the sidewalk, priced below the running version.
RUNNING STATE OF PLAY 2026
Parkrun’s global growth, region by region
Year-on-year growth in participation, 2024–2025
+32.4%
Europe
+28.8%
North America
+20.5%
South Africa
+20.35%
APAC
+12.8%
Ireland
Source: Parkrun, 2024–2025 Annual Report, Oct. 2025. Figures reflect year-on-year growth in event participation by region.
CONSUMER
Running footwear sales climb 13% as US market stalls
US footwear sales inched up 1 percent in H1 2026, but running shoes grew 13 times faster.
Running State of Play 2026
Nearly a third of runners started during the pandemic, motivated by health not competition – they are reshaping the sport
The rise of Indonesia’s local running shoe brands
Local brands control more than a third of Indonesia’s online running shoe sales, undercutting global competitors on price.
Gravel running becomes brands’ new growth strategy
Salomon describes gravel as a gateway to new consumers, and Nike, Craft and HOKA are following it into the category.
Beyond the logo: what brands gain from mass participation sports
A 7.8% surge in event participation is reshaping where sporting goods brands can build durable equity – if they look past the finish-line banner.
SportsShoes Running Report: one in six Brits run
Younger generations lead UK running participation as the sport maintains a stable base — with motivations, barriers and technology habits mapped across 5,000 Brits.
Market Analysis: The global athletic footwear market
SGI Europe’s yearly analysis details global sales of 25 athletic footwear brands and their performance in 2024.
CORPORATE & STRATEGIES
Cyclist turned marathoner launches running label in Leeds
Edmondson raced UK’s Node4-Giordana for years before winning a marathon by 10 minutes.
ASICS plants its lab in France
ASICS establishes its European Institute of Sport Science, with HumanFab as its first research partner for tennis biomechanics.
ASICS builds elite lab where it all began
ASICS is building a dedicated facility in Kobe for elite athlete footwear and rapid prototyping, due to open in December 2027.
Asics buys US race registration platforms
The brand takes another step towards building a global race registration empire.
Xtep goes multi-channel in Malaysia
Xtep forms joint venture with Bonia Corporation in Malaysia, opening flagship store at Mid Valley Megamall as part of Southeast Asia expansion strategy.
Asics’ new head office in Tokyo
The office is designed to promote activity-based working and foster collaboration between different teams at Asics.
Intersport CEO Foley highlights running boom, stresses local approach
Tom Foley says that running is Intersport’s standout category, while outdoor has not yet reached former levels.
Decathlon in technology collaboration with British Rheon Labs
Rheon has already collaborated with brands like Adidas, Rapha, Macron and many others who have chosen to use Rheon materials and technology in sports equipment.
RETAIL & DISTRIBUTION
Asics to open second Japan flagship in Tokyo
Asics’ second Tokyo flagship adds embroidery customisation and a members-only lounge.
Xtep opens first Saucony flagship store in Hong Kong
HK sales per sq ft already outpace the mainland as Xtep’s premium running brand opens at K11 Art Mall
Xtep plants six flags in Malaysia
Six stores, a localized shoe launch and a 10KM race with 10,000 applicants for 1,500 slots: Xtep is betting Malaysia’s running boom is real.
On keeps marching: another China flagship
Swiss performance brand opens 802sqm flagship in Shenzhen as Asia-Pacific net sales surged 96% in 2025.
On opens first standalone store in Seoul
Swiss running brand On moves beyond department stores in South Korea with a three-floor standalone in Hannam-dong, opening March 12.
Swedish brand Craft opens first China flagship
The Swedish endurance sports brand debuts its Chinese retail strategy with a full-scenario experience store.
Xtep goes multi-channel in Malaysia
Xtep forms joint venture with Bonia Corporation in Malaysia, opening flagship store at Mid Valley Megamall as part of Southeast Asia expansion strategy.
Nike, Mizuno lead StockX resale growth in 2025
Mizuno leads sporting goods resale growth at 124 percent as nearly 200 brands hit record sales on StockX in 2025, signaling shifts in athletic market.
Case study: how Xtep turned Saucony into a profit engine
A $61 million China buyout turned a break-even brand into a fast-growing profit engine
ANTA Sports: The making of a global multi-brand machine
From a Fujian shoe factory to a global conglomerate: how ANTA built a portfolio that now rivals Nike and adidas, and how it runs it.
How ASICS built a running platform empire
Seven acquisitions in seven years have made ASICS the world’s largest race registration operator. The financials back the thesis.
Intelligence, analysis and advice for the global sporting goods industry.
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