The ‘Global Rough Ruby Market Size, Share, Analysis, Trends, Price, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global rough ruby market, assessing the market based on its segments like carats, sales channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Rough Ruby Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028
• Forecast CAGR (2023-2028): 5.0%
The market for rough ruby is being driven by the rising demand for gemstones in jewellery making and decorations, which is supported by the economic growth of both the developed and developing countries. The rapid urbanisation and rising disposable incomes are aiding the utilisation of rough ruby in jewellery applications.
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As natural, high-quality, and large rubies are relatively rare and valuable, they are in high demand and they typically fetch very high prices at direct auctions. Hence, rough ruby is used as a cost-effective way for many buyers and collectors to acquire ruby at an accessible price. Moreover, the rough ruby market is expected to benefit during the forecast period due to the increasing mining activities by key players.
Rough Ruby Market Definition and Major Segments
Ruby gemstones are known for their naturally blood-red colour and are extremely strong stones. They have a 9.0 rating on the Mohs scale of mineral hardness, which places them directly before the diamond as its rank is 10.0 on the hardness scale.
Rough rubies are the raw and uncut forms of the gemstone, and countries such as Afghanistan, Myanmar, and other Southeast Asian countries have the highest concentration of rubies in the world.
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The rough ruby market, by carat, can be bifurcated into:
• Up to 8 Carat
• 8-12 Carat
• 13-15 Carat
Based on sales channel, the market is bifurcated into:
• Direct Auction
The major regional markets for rough ruby include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Rough Ruby Market Trends
The rising belief of people in spirituality and astrology has propelled the utilisation of rough rubies for spiritual and astrological uses. Consumers are inclining towards purchasing jewellery with ruby stones, as the gemstone is believed to bring happiness and passion into life and ward off negativity.
Some of the key rough ruby market trends include innovative ruby-based offerings by leading jewellery companies, the rising demand for luxury jewellery, and surging disposable incomes of working women. With the growing trend of crystal collection, consumers are increasingly investing in raw rubies as collectors’ items, which is likely to drive the market for rough ruby in the coming years.
Key Market Players
The major players in the rough ruby market report include Gemfield Plc, Gem Bridge, Mwriti Limitada, FURA Gems, and Gem Rock, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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