Red Clover Market Report 2024

This Red Clover market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The red clover market size has grown rapidly in recent years. It will grow from $1.68 billion in 2023 to $1.78 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The expansion during the historical period can be linked to the increasing adoption of organic farming practices that promote red clover cultivation, its application in sustainable agriculture, the growing popularity of functional foods, supportive regulations and guidelines for herbal products, and a transition towards preventive healthcare.

The red clover market size is expected to see rapid growth in the next few years. It will grow to $2.75 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth during the forecast period is driven by heightened awareness of the health benefits linked to red clover, an increasing emphasis on health and wellness among consumers, the rising popularity of plant-based diets, and the expanding dietary supplement market. Key trends expected in this period include ongoing research that emphasizes the benefits and applications of red clover, innovative product development, increased funding for research, advancements in agricultural technology, and the integration of red clover into functional beverages.

The growing consumption of herbal dietary supplements is projected to drive the expansion of the red clover market in the future. Herbal dietary supplements consist of products derived from plant extracts or ingredients aimed at promoting health and wellness. This increase in consumption is influenced by various factors, including heightened consumer awareness of health issues, a rising preference for natural and organic options, and the growing trend of preventive healthcare. Red clover is frequently included in herbal dietary supplements due to its potential benefits, such as alleviating menopausal symptoms, enhancing bone health, and supporting cardiovascular health. For example, in November 2023, the German Tea & Herbal Infusions Association reported that tea imports in Germany rose by 7.4% in 2022, reaching 3,531 tonnes. This increase brought the total tea imports above pre-COVID levels, with over 51,000 tonnes of black and green teas imported from 82 different countries, compared to 47,500 tonnes in 2021. Thus, the increased consumption of herbal dietary supplements is propelling the growth of the red clover market.

Leading companies in the red clover sector are concentrating on developing innovative products, including advanced cultivation techniques, to secure a competitive advantage. These techniques involve precision agriculture, which employs GPS and data analytics to optimize planting and resource management, ensuring robust growth and effective input utilization. Another method is cover cropping, which uses red clover to enhance soil health, suppress weeds, and boost biodiversity, ultimately improving overall crop yields. For instance, in September 2024, Cork Beauty Professional, an Ireland-based beauty service provider, launched Cork's Red Clover Farm, offering a range of skincare products and herbal tea specifically for women experiencing perimenopause or menopause. Red clover is highly nutritious, containing isoflavones, phytoestrogens, and protein, all of which are beneficial for aging and mature skin.

In June 2024, Catterton Partners, a US-based private equity firm, acquired Stripes Beauty for an undisclosed sum. This acquisition aims to bolster Stripes Beauty's growth both domestically and internationally, particularly in the wellness sector, which focuses on products related to menopause. Stripes Beauty is a US-based supplier of red clover.

Major companies operating in the red clover market are Nestlé S.A., Barenbrug Group, NOW Foods, Swanson Health Products, Nature’s Way, Gaia Herbs, Frontier Co-op, Little Barn Health Ltd., Starwest Botanicals, Herb Pharm LLC, HealthAid, ChhajedGarden, Monterey Bay Herb Co, Indigo Herbs, Mountain Rose Herbs, One Herb, Avestia Pharma, Herbo Nutra, Et-Chem, Freshmills.

North America was the largest region in the red clover market in 2023. The regions covered in the red clover market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the red clover market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Red clover is a perennial flowering plant that belongs to the legume family, scientifically classified as Trifolium pratense. It is commonly utilized as a forage crop for livestock due to its high protein levels and its ability to enhance soil fertility through nitrogen fixation. Additionally, red clover is recognized in herbal medicine for its potential health benefits, including support for women’s health during menopause and contributions to overall wellness.

The primary forms of red clover include raw and processed varieties. The raw form consists of the unprocessed parts of the plant, such as the leaves, flowers, and stems, which are directly harvested from the field. Distribution channels include direct sales and distributors, with applications spanning various sectors, including the food and beverage industry, pharmaceutical industry, agriculture industry, animal feed industry, and cosmetic and personal care industry.

The red clover market research report is one of a series of new reports that provides red clover market statistics, including red clover industry global market size, regional shares, competitors with a red clover market share, detailed red clover market segments, market trends and opportunities, and any further data you may need to thrive in the red clover industry. This red clover market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The red clover market consists of sales of powdered form, topical creams, teas, and herbal supplements. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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