When you think of sportswear, Nike immediately comes to mind. It’s the giant, the leader, the brand everyone knows. But what about the one right behind it? Who’s actually holding the number two spot in the global sportswear market? If you’ve been wondering this, you’re not alone. Millions of people shop for athletic gear every year, and knowing who’s second helps you understand where the industry is really headed.
The Real Leader: Nike
Nike isn’t just big - it’s dominant. In 2025, Nike generated over $51 billion in revenue from sportswear alone. That’s more than the next five competitors combined. It controls about 28% of the global market. You see its logo on running shoes in Tokyo, basketball jerseys in Lagos, and yoga pants in Toronto. Nike doesn’t just sell gear - it sells identity. From Michael Jordan to Simone Biles, it ties performance to cultural moments. But dominance doesn’t mean there’s no room for someone else to grow.
The Contender: Adidas
Adidas is the 2nd largest sportswear brand in the world. Not close second. Not almost. Second. In 2025, Adidas brought in $22.7 billion in revenue from sportswear and footwear. That’s more than double the third-place brand. Its market share sits at about 12.5%, and it’s been steadily holding that position for the last five years. Unlike Nike’s flashy, hype-driven model, Adidas leans into performance, sustainability, and streetwear fusion. Its partnership with Kanye West - though now over - still echoes in the cultural relevance of Yeezy, which helped it break into urban fashion markets globally.
Adidas doesn’t just make running shoes. It makes football kits for Bayern Munich, basketball shoes for NBA stars like Damian Lillard, and training gear for Olympic teams. It also owns Reebok, which adds another $1.3 billion in annual sales. Reebok’s legacy in fitness and CrossFit keeps it alive in niche markets, giving Adidas a broader footprint than most realize.
Why Adidas Stays in Second
Adidas has faced challenges. Supply chain issues in 2022, slow adaptation to digital sales, and a dip in U.S. market share after 2020 made some think it was falling. But it didn’t. Instead, it doubled down on what it does best: innovation with purpose.
In 2024, Adidas launched its first fully recyclable running shoe, the Futurecraft.Loop. It’s not just marketing - it’s a working product. Customers can return worn shoes, and Adidas breaks them down into raw materials to make new ones. This isn’t a gimmick. It’s part of a larger strategy to cut carbon emissions by 30% by 2030. That’s something Nike hasn’t matched in scope or transparency.
Adidas also owns a stronger foothold in Europe. In Germany, France, and the UK, it outsells Nike in both retail and online channels. In fact, in 2025, Adidas held 18% of the European sportswear market compared to Nike’s 16%. That regional strength keeps its global numbers steady.
Who’s Trying to Take Second?
Some people think Puma or Under Armour might be the real #2. They’re not. Puma, with $8.1 billion in revenue in 2025, is solidly in third. It’s growing fast - especially in soccer and lifestyle fashion - but it’s still less than half the size of Adidas. Under Armour? It’s barely on the map globally, with $5.2 billion in revenue and a shrinking international presence. Lululemon? It’s a fitness brand, not a sportswear brand. It doesn’t make football cleats or basketball jerseys at scale.
Even Chinese brands like Anta and Li-Ning are rising, but they’re still regional. Anta’s revenue hit $7.8 billion in 2025, mostly from China. It’s impressive, but it hasn’t cracked the U.S. or European markets the way Adidas has.
What Makes Adidas Different?
Adidas doesn’t chase trends. It builds systems. Its three-pillar strategy - performance, lifestyle, and sustainability - isn’t just a slogan. It’s built into product design, marketing, and supply chains.
- Performance: Adidas partners with over 100 professional sports teams across soccer, basketball, and athletics. It designs shoes based on athlete feedback, not focus groups.
- Lifestyle: Collaborations with Pharrell Williams, Beyoncé, and Stella McCartney keep it culturally relevant. The Originals line - Superstar, Stan Smith, Samba - sells over 100 million pairs annually.
- Sustainability: By 2025, 80% of Adidas’ products used recycled polyester. It’s the first major brand to eliminate virgin plastic from its packaging.
These aren’t side projects. They’re core business drivers. And that’s why, despite Nike’s massive ad budget and celebrity deals, Adidas keeps its place.
Market Trends That Protect Adidas’ Position
The sportswear market is changing. Fast. Consumers now care about:
- How products are made
- How long they last
- Whether the brand treats workers fairly
Nike still leads in marketing. But Adidas leads in trust. A 2025 global survey by McKinsey found that 68% of consumers under 35 trusted Adidas more than Nike on sustainability. In the U.S., that number was 57% - still higher than Nike’s 49%.
Also, Adidas’ direct-to-consumer sales grew 12% year-over-year in 2025. It’s closing the gap with Nike’s digital advantage. Its app, miAdidas, now has over 60 million active users. It lets customers customize shoes, track orders, and even get repair services. That kind of loyalty doesn’t come from billboards. It comes from experience.
What’s Next for Adidas?
Adidas isn’t resting. It’s expanding into new categories: women’s training gear, adaptive footwear for disabilities, and even smart apparel with built-in sensors. In late 2025, it launched a line of shoes that track steps, heart rate, and stride length - all without needing a phone. It’s not replacing Fitbit. It’s replacing the need for one.
Its biggest challenge? Keeping up with inflation. Material costs rose 14% in 2025. But Adidas responded by investing in automation. It now uses robots to assemble shoes in Germany and the U.S., cutting labor costs and speeding up delivery. That’s not something Puma or New Balance can do at scale.
Adidas will likely stay second for at least the next five years. Nike’s size is too big to catch. But Adidas? It’s the only brand that’s closing the gap - not by copying Nike, but by doing something different.
So, Who’s Second? It’s Not a Trick.
Adidas is the 2nd largest sportswear brand in the world. Not because it’s flashy. Not because it has the most ads. But because it’s consistent, responsible, and built to last. It doesn’t need to be #1 to matter. It just needs to be better than everyone else in the room - and right now, it is.
Is Adidas really the second largest sportswear brand?
Yes. Based on 2025 revenue data from Forbes and Statista, Adidas generated $22.7 billion in sportswear and footwear sales, placing it firmly in second place globally. Nike leads with $51 billion, and Puma comes in third with $8.1 billion. The gap between Adidas and Puma is more than double, making Adidas the clear runner-up.
Why doesn’t Puma rank higher if it’s so popular?
Puma is popular in fashion and soccer, but it lacks the global scale of Adidas. Puma’s revenue is less than half of Adidas’s, and it doesn’t have the same depth in performance sports like basketball, track, or Olympic gear. While Puma excels in lifestyle and celebrity collabs, it doesn’t have the same breadth of professional partnerships or sustainability infrastructure that keeps Adidas in the top two.
Does Reebok count toward Adidas’ ranking?
Yes. Adidas owns Reebok, and Reebok’s $1.3 billion in annual revenue is included in Adidas’ total. Without Reebok, Adidas’ standalone revenue would still be higher than Puma’s. Reebok’s strength in fitness and CrossFit helps Adidas maintain its position in the U.S. market, where Reebok still has strong retail presence.
Can Anta or Li-Ning overtake Adidas?
Not anytime soon. Anta and Li-Ning are growing fast - especially in China - but they’re still regional players. Anta’s total revenue in 2025 was $7.8 billion, mostly from the Chinese market. Neither brand has significant retail presence or brand recognition in North America or Western Europe, where the majority of global sportswear sales happen. To overtake Adidas, they’d need to break into those markets at scale - something they haven’t done yet.
Is Nike losing ground to Adidas?
Not in size - Nike is still growing. But in trust and perception, Adidas is gaining. A 2025 consumer survey showed that more young shoppers trust Adidas on sustainability and ethical production. Nike still leads in marketing spend and celebrity deals, but Adidas is winning in long-term loyalty. The gap in revenue is wide, but the gap in perception is narrowing.
