Red Clover Market 2024 - Industry Size, Business Segments, Innovative Strategies And Outlook by 2033

"The Business Research Company recently released a comprehensive report on the Global Red Clover Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 growth in the historic period can be attributed to the rise in organic farming practices boosting the cultivation of red clover, the use of red clover in sustainable agriculture, the rising trend of functional foods, favorable regulations and guidelines supporting the use of herbal products, and a shift toward 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 growth in the forecast period can be attributed to increasing awareness of the health benefits associated with red clover, increasing focus on health and wellness among consumers, the growing popularity of plant-based diets, and the growing dietary supplemen*t market. Major trends in the forecast period include ongoing research highlighting the benefits and applications of red clover, innovative product development, increased research funding, innovations in agricultural technology, and integration in functional beverages.

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Market Drivers and Trends:

The heightened consumption of herbal dietary supplemen*ts is expected to propel the growth of red clover going forward. Herbal dietary supplemen*ts are products made from plant extracts or ingredients that are intended to support health and wellness. The heightened consumption of herbal dietary supplemen*ts is due to several factors such as increased consumer awareness of health and wellness, a growing preference for natural and organic products, and the rising popularity of preventive healthcare. Red clover is commonly used in herbal dietary supplemen*ts for its potential benefits in relieving menopausal symptoms, improving bone health, and supporting cardiovascular function. For instance, in November 2023, the German Tea & Herbal Infusions Association, a Germany-based competence center for all questions of raw material procurement, quality assurance, and the marketing of black and green tea, herbal tea, and fruit tea, in 2022, the volume of tea imports in 2022 grew by a further 7.4%, namely 3,531 tonnes. This put the overall volume of tea imports above pre-COVID levels. At least 51,000 tonnes of black and green teas were imported to Germany from a total of 82 different countries (as opposed to 47,500 tonnes in 2021). Therefore, the heightened consumption of herbal dietary supplemen*ts is driving the growth of the red clover market.

Major companies operating in the red clover market are focusing on developing advanced products, such as advanced cultivation techniques, to gain a competitive edge. Advanced cultivation techniques for red clover include precision agriculture, which uses GPS and data analytics to optimize planting and resource management, ensuring healthy growth and efficient use of inputs. Cover cropping is another technique for planting red clover to improve soil health, suppress weeds, and enhance biodiversity, leading to better overall crop yields. For instance, in September 2024, Cork beauty professional, an Ireland-based beauty professionals and salons offering launched Cork'sCork's Red Clover Farm, with a range of skincare products and herbal tea for women in the perimenopause or menopause age group. Red clover is very nutritious and contains isoflavones, phytoestrogens, and protein, all benefit aging and more mature skin.

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Major Key Players of the Market:

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

Red Clover Market 2024 Key Insights:

• 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 Heightened Consumption Of Herbal Dietary Supplemen*ts Propelling The Growth Of The Red Clover Market
• Innovations In Red Clover Cultivation And Product Development
• North America was the largest region in the red clover market in 2023

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This release was published on openPR.