In Europe, 85% of furniture consumption is fulfilled locally by an EU-based production, with stable proportion. The market is still very fragmented with many different firms differentiated with their designs.The European market for premium furniture is about EUR 7 Billion in Europe. Wood is the #1 preferred material for furniture with a 27% market share, however metal is also on the rise. The market for quality products is growing more than +5% per year (both in retail and project market segments). As a result the current Cruso catalogue's adressable market is about EUR 1.5 Billion in Europe. Contracts segment is currently growing strongly ; this is where the primary end-users of contract furniture are commercial sectors such as hospitality, retail stores, corporate and government offices, healthcare, and others. In some segments of the market, contract sales are deemed to reach 60% of the market value. Europe represents the largest market for luxury furniture, and Germany is the largest furniture market in Europe. One major trend motivating the market growth is the advent of durable & eco-friendly furniture, which is driven by the growing environmental concerns that have driven the furniture vendors to go greenSource : Research and Markets, TechNavio market research, European Commission
With the global furniture market witnessing major transition in terms of technological advancements, product feature enhancements, and the use of raw materials, the demand for contract furniture has increased significantly in the recent years.Market Watch
Cruso new markets development
As a response to competition, our "Smart catalogue" strategy consist in creating new products with very little to no segment competition. This means for each product specification segment, we aim to have the best possible product offering, with the best possible price/quality ratio in comparison with leading brands on the segment.
For example, for the main Cruso dining table, there is very little competition for the longest model reaching 300 cm long. Other substitutes in the market offer less advanced designs, and lower quality wood plates than the Cruso 3cm-thick solid wood plate.