II. Industry and Competition
Nike, Inc. is considered to belong to the Global Sports Clothing & Accessories industry
due to the reason that they produce products like footwear, apparel and equipment especially
for athletes. Product innovation continues to prove key in this industry, with companies
employing technological innovation to keep up with changing trends in fitness. Companies
invest heavily in research and development to offer athletes and casual sports participants
higher performance products.
The global sports apparel market was worth $135 billion in 2012, according to Forbes’
estimates. It is expected that the market may grow at a CAGR of 4% during 2012-2019 to reach
$178 billion. Various factors are expected to drive market growth such as growing fitness
consciousness, rising income levels in developing countries, the growing popularity of sports
apparel for women as well as the trend towards stylish and comfortable sportswear. Rising
demand from Asia Pacific and Latin America due to growing economic prosperity in these
regions coupled with a trend towards leading a healthy lifestyle will be the key catalysts for
market growth.
The world sports apparel industry is expected to exceed $126 billion by 2015, according
