It’s widely used in traditional medicine as a remedy for menopause symptoms, asthma, whooping cough, arthritis, and even cancer. Red clover contains isoflavones, which are a type of phytoestrogen — a plant compound that can weakly mimic estrogen in the body. Some research has shown a connection between isoflavone intake and a decrease in osteoporosis risk. Red clover extract has been used in traditional medicine to promote skin and hair health.