LycoRed is facing a wave of consumers demanding natural alternatives to existing colours and is responding with new formulations in addition to broader product development.
That's according to Ilan Ron, vice president of global marketing and sales for the Israel-based company. Speaking exclusively to FoodNavigator at Vitafoods Europe 2012 in Geneva, Switzerland, Ron said: "Natural has changed from 'nice to have' to 'must'. The pressure is coming from the consumer, who is saying that if you want to maintain a good brand, you have got to use natural colours."
Innovations from LycoRed included a natural alternative to carmine, which is used for red pigments and is derived from insects.
In addition to its expansion in the sphere of natural colours, Ron said LycoRed had also developed new formulations targeting cardiovascular health and new vitamin-based formulations.
The company had strong plans for growth and in addition to recruiting new managers was also targeting expansion in Asia.