There is a movement in the footwear landscape in 2024. While the big names maintain their strong positions, upstarts and underdogs begin to show promise and momentum. At the same time, Nike continues on its own strong course, sitting firmly on the first position.
Nike Continues To Rule Footwear Market
Nike holds the top brand with significant high-profile collaborations, notably with rapper Travis Scott, while it struggles to reproduce the dominance of the more iconic retro models in sneakers like Jordan 1, Dunk, and Air Force 1. This all helps the company maintain a place of leadership, although a fragile one, globally because of its brand strength and innovation.
Adidas Grabs The Second Spot In Footwear Market
Adidas rises to the second position as a resurgence in classics Samba, Campus and Handball Spezial benefits it. Those three SKUs have turned the brand from a want to a have for nostalgic buyers as well as for those interested in fashion.
New Balance Sits On Third Place
New Balance continues to hold a strong third place, thanks to models like 1906, which offer the right balance of performance and style. Its stable growth also speaks to its ability to attract sneaker enthusiasts as well as lifestyle consumers.
Crocs Climb Up To The Fourth Place
The most stylish yet comfy footwear brand, Crocs have been able to place themselves at number four in the race in the footwear market.
Vans And Dr. Martens Experience Growth
Vans’ four-place jump to number 9 from number 13 on the list is arguably the most spoken footwear success story of 2024. Brand appeal across skate culture and mainstream fashion, reinforced through strong collaborations, keeps Vans relevant with young customers while tapping into nostalgic-driven buyers.
Dr. Martens had a major leap up, three notches to number 7. With the boots still being all over the place, there’s broad appeal, but its limited-edition collabs kept it at the forefront of both fashion and streetwear.
Puma
Puma has moved up to number 5, riding the increasing popularity of motorsport-inspired designs such as the Puma Speed Cat. It has managed to balance sporty looks with functionality that appeals to both fashion enthusiasts and performance enthusiasts.
Asics
Asics is renowned for its performance-oriented footwear. However it has slipped two notches to number 6. While it has had strong products like the Gel Kayano 14 and big collaborations, it still loses out to lifestyle-oriented competition.
Other Footwear Brands
Other strong performers include Birkenstock at number 8, which remains stable due to the comfort-first sandals’ popularity and Salomon at number 10, whose outdoor and trail-running shoes have found niches in both performance and lifestyle markets.
Trends Driving The Footwear Market
A few factors are driving the changes in the 2024 rankings. A mix of performance and fashion has become a defining trend, with running shoes and sports-inspired designs remaining popular. Brands like ASICS and New Balance are embracing their athletic roots, while others like PUMA are capitalizing on motorsport aesthetics.
Collaborations are still an important part of the footwear business, as brands partner with celebrities, designers, influencers and artists to stay relevant. Nostalgia is also a major influence, with brands such as Adidas and Dr. Martens enjoying a revival due to their classic products.
What’s Next In The Footwear Industry?
It was always a tough competition in the market and 2024 did not change that at all. Nike and Adidas never seem to slow down their pace however lifestyle-driven brands like Vans and Dr. Martens are on the rise and prove that the market can be excitingly evolutionary. Innovation, nostalgia and collaboration are driving this trend and this promises to be another transformative year for the footwear industry.
Which brand surprised you the most this year? Let us know your thoughts.
The Sportz Planet Desk,
Atharva Shetye
