Red Clover Market Report 2024 (Global Edition)

Global Red Clover Market Report 2024 Market Size Split by Forms Outlook: (Raw Forms, Processed Forms), by Application Outlook: (Food and Beverage Industry, The Pharmaceutical Industry, Agriculture Ind...

Red Clover Market Report Description

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Competitive Landscape of the Red Clover Market

In the Red Clover market's competitive landscape, numerous key competitors are driving innovation and growth. There is a growing number of small businesses and local herbalists offering organic Red Clover products, particularly through online platforms or health food stores. These companies often promote their products as eco-friendly, ethically sourced, and free from synthetic chemicals, which appeals to environmentally-conscious consumers. Companies are increasingly differentiating their Red Clover offerings through new product formats, such as functional beverages, ready-to-drink teas, and combined herbal blends.

Top Companies Market Share in Red Clover Industry: (In no particular order of Rank)

• Avestia Pharma
• Herbo Nutra
• Herb Pharm LLC
• Et-Chem
• Nanjing NutriHerb BioTech Co Ltd
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Regional Analysis of the Red Clover Market

Which Region Dominates the Red Clover Market in 2024?

According to Cognitive Market Research, North America currently dominates the Red Clover market, and the region is expected to have significant growth during the projected period. Consumer preferences in North America have significantly shifted toward natural, organic, and plant-based products. According to the American Botanical Council's (ABC) 2023 Herb Market Report, annual retail sales of herbal dietary supplements in the U.S. reached $15.551 billion in 2023, reflecting a $533 million increase over the previous year and a 4.4% growth in sales. In comparison, American consumers spent $12.12 billion on these supplements in 2022 and $12.35 billion in 2021. Growing concerns about the potential side effects of pharmaceutical drugs and synthetic ingredients have driven many to seek herbal remedies, such as Red Clover, for their perceived safety and effectiveness. Renowned for its potential benefits, including cardiovascular health support, hormonal balance (particularly for menopausal women), and anti-inflammatory properties, Red Clover has become a popular choice for those embracing holistic health solutions.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The aging population in Asia-Pacific, particularly in countries like Japan and South Korea, is a significant factor driving the demand for Red Clover. Asia is home to approximately 649 million people aged 60 and older, accounting for 58% of the global elderly population. Over the next three decades, the proportion of older adults in Asia's population is expected to double. By 2050, there will be 1.3 billion older individuals, comprising 25% of the region's total population, up from the current 13.7%. India is also witnessing this demographic shift, with 149 million people aged 60 and above in 2022, representing 10.5% of the population. By 2050, this figure is projected to increase to 347 million, or 20.8% of the population. Older individuals are increasingly turning to natural solutions for managing age-related health concerns. Red Clover, recognized for its potential benefits in supporting cardiovascular health, is becoming a preferred choice for the elderly, who are more susceptible to heart-related issues. Additionally, women in their post-reproductive years are opting for Red Clover to alleviate menopausal symptoms such as hot flashes and mood swings, further contributing to its growing demand.

The current report Scope analyzes Red Clover Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Red Clover

According to Cognitive Market Research, the global Red Clover market size was estimated at USD 1825.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 730.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Red Clover market with a market size of USD 576.16 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. In the U.S., the demand for the Red Clover market is driven by the increasing consumer preference for natural health supplements, and the rising popularity of herbal teas and functional beverages.
• The Canada Red Clover market had a market share of USD 87.63 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. In Canada, the demand for the Red Clover market is driven by the country's expanding health-conscious population, and a shift toward plant-based and organic products.
• The Mexico Red Clover market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 66.45 million in 2024.

Europe Red Clover

According to Cognitive Market Research, the global Red Clover market size was estimated at USD 1825.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 547.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• The United Kingdom Red Clover market had a market share of USD 92.01 in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. In the UK, Red Clover sales witness an upswing due to the growing trend toward plant-based and natural remedies, as consumers seek alternatives to synthetic pharmaceuticals.
• The France Red Clover market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 50.39 million in 2024.
• According to Cognitive Market Research, the German Red Clover market size was valued at USD 108.44 million in 2024 and is projected to grow at a CAGR of 10.2% during the forecast period. In Germany, Red Clover surged due to the country's increasing shift toward organic and natural health solutions.
• The Italy Red Clover market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 47.10 million in 2024.
• The Russia Red Clover market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 84.89 million in 2024.
• The Spain Red Clover market is projected to witness growth at a CAGR of 9.1% during the forecast period with a market size of USD 44.91 million in 2024
• The Luxembourg Red Clover market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 16.98 million in 2024.
• The Portugal Red Clover market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 11.50 million in 2024.
• The Greece Red Clover market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 6.57 million in 2024.
• The Rest of Europe's Red Clover market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 84.89 in 2024.

Asia Pacific Red Clover

According to Cognitive Market Research, the global Red Clover market size was estimated at USD 1825.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 419.89 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Red Clover market size was valued at USD 188.95 million in 2024 and is projected to grow at a CAGR of 13.0% during the forecast period. Red Clover surged in China due to the country’s rising popularity of natural health solutions and increasing awareness of herbal remedies.
• The Japan Red Clover market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 57.94 million in 2024.
• The India Red Clover market had a market share of USD 50.39 million in 2024 and is projected to grow at a CAGR of 15.3% during the forecast period. India's increasing preference for natural, plant-based supplements due to their minimal side effects and holistic health benefits, driving the market.
• The South Korean Red Clover market is projected to witness growth at a CAGR of 12.6% during the forecast period, with a market size of USD 41.99 million in 2024.
• The Australian Red Clover market is projected to witness growth at a CAGR of 13.2% during the forecast period, with a market size of USD 21.83 million in 2024.
• The South East Asia Red Clover market is projected to witness growth at a CAGR of 14.5% during the forecast period, with a market size of USD 28.97 million in 2024.
• The Rest of the Asia Pacific Red Clover market is projected to witness growth at a CAGR of 13.3% during the forecast period, with a market size of USD 29.81 million in 2024.

South America Red Clover

According to Cognitive Market Research, the global Red Clover market size was estimated at USD 1825.6 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 91.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Red Clover market size was valued at USD 39.07 million in 2024 and is projected to grow at a CAGR of 11.5% during the forecast period. Red Clover flourished in Brazil due to the growing preference for natural health solutions, and expanding wellness trend.
• Argentina's Red Clover market had a market share of USD 15.34 million in 2024 and is projected to grow at a CAGR of 11.8% during the forecast period. Argentina's expanding demand for functional beverages and plant-based wellness products, driving the market.
• Colombia's Red Clover market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 8.12 million in 2024.
• Peru's Red Clover market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of 7.48 million in 2024.
• Chile's Red Clover market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 6.57 million in 2024.
• The Rest of Latin America's Red Clover market is projected to witness growth at a CAGR of 10.0% during the forecast period, with a market size of USD 14.70 million in 2024.

Middle East and Africa Red Clover

According to Cognitive Market Research, the global Red Clover market size was estimated at USD 1825.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 36.51 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.

• The GCC Countries Red Clover market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 15.63 million in 2024. Red Clover sales flourish due to the region's rising interest in plant-based wellness products due to a more health-conscious population.
• The Egypt Red Clover market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 3.83 million in 2024.
• The South Africa Red Clover market is projected to witness growth at a CAGR of 12.2% during the forecast period, with a market size of USD 5.77 million in 2024. Red Clover sales flourished in South Africa due to the aging population seeking natural supplements for hormonal balance, and increasing interest in herbal teas.
• The Turkey Red Clover market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 3.14 million in 2024.
• The Nigeria Red Clover market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 3.83 million in 2024.
• The Rest of the MEA Red Clover market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 4.31 million in 2024.

Red Clover Market Analysis

How are Segments Performing in the Global Red Clover Market?

Red Clover Market Forms Segment Analysis

According to Cognitive Market Research, Processed Forms is likely to dominate the Red Clover Market over the forecast period. Processed forms of Red Clover, including capsules, tablets, and teas, offer greater convenience to consumers compared to their raw counterparts. These products remove the need for time-consuming preparation, such as drying or brewing raw Red Clover, making them well-suited for individuals with busy lifestyles. Additionally, options like capsules, tablets, and single-use tea or powder sachets are portable and easy to use, providing a hassle-free solution for consumption on the go.

The Raw Forms is the fastest-growing segment in the Red Clover Market. Consumers are increasingly gravitating toward natural, unprocessed products for their perceived purity and health benefits. The raw form of Red Clover, including its fresh or dried flowers and leaves, is favored by consumers who value minimally processed, whole-plant remedies. Many buyers associate raw forms with organic farming practices, aligning with their preference for clean-label products.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Red Clover Industry. Request a Free Sample PDF!

Red Clover Market Application Segment Analysis

According to Cognitive Market Research, the Food and Beverage Industry segment holds the largest share of the market. Functional foods and beverages fortified with natural ingredients are gaining popularity due to their health-enhancing properties. Rich in isoflavones, Red Clover is associated with supporting hormonal balance, cardiovascular health, and anti-inflammatory effects. These attributes make it an attractive ingredient for health-conscious consumers. Red Clover is increasingly used in teas, smoothies, and health drinks for its functional benefits, such as alleviating menopausal symptoms and improving bone health.

In the Red Clover Market, the Agriculture Industry has been expanding at a rapid pace. Red Clover is widely used in agriculture due to its ability to improve soil fertility through nitrogen fixation. Red Clover has symbiotic relationships with Rhizobium bacteria, which convert atmospheric nitrogen into a form usable by plants. This reduces the need for synthetic nitrogen fertilizers, lowering input costs for farmers and promoting sustainable practices. By adding organic matter to the soil, Red Clover improves soil structure, moisture retention, and microbial activity, contributing to higher crop yields in subsequent planting cycles.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Red Clover Distribution Channel Outlook: Segment Analysis

Red Clover Market Distribution Channel Segment Analysis

According to Cognitive Market Research, The Offline segment holds the largest market share. The widespread presence of physical retail outlets ensures easy access to Red Clover products for consumers. Health food stores, which specialize in natural and organic products, are a popular choice for health-conscious individuals seeking Red Clover in various forms. Pharmacies continue to be a trusted source for herbal supplements, including Red Clover, particularly for those looking for health benefits. Supermarkets and hypermarkets serve a broad range of customers, offering the convenience of purchasing Red Clover products alongside other everyday essentials.

In the Red Clover market, the rapidly growing sector is the online category. Online channels provide unparalleled convenience, enabling consumers to buy Red Clover products from the comfort of their homes. Unlike physical stores, online platforms are available 24/7, accommodating consumers with diverse schedules. Additionally, online shopping eliminates the need for store visits, saving time and effort, particularly for busy individuals or those with mobility challenges.

• Online
• Offline

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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