ORANGE, N.J., May 23, 2012 /PRNewswire/ -- LycoRed Limited, a leading developer and marketer of ingredients for food fortification, dietary supplements and food coloring, announced today that the company's production of Tomat-O-Red®, the only FDA-approved, all-natural lycopene red color additive, has doubled in the past month to meet growing market demand among food and beverage manufacturers.
"We are pleased to offer a natural, vegan-friendly red food color additive, especially given the recent public outcry over the use of cochineal extract, which is derived from beetles," said Morris Zelkha, president and CEO of LycoRed. "With this increased demand and interest in Tomat-O-Red, production levels are continuing to ramp up daily, and we are also fielding a flood of inquiries from food and beverage wholesalers and manufacturers of all sizes, about the product's many attributes and benefits."
LycoRed, a science-based Israeli company with more than 15 years of experience, uses a patented process to produce Tomat-O-Red, an antioxidant-rich lycopene compound, from California-grown, non-genetically modified (GMO) tomatoes. In addition to being vegan, Tomat-O-Red is kosher and halal certified as well as considered a Generally Recognized as Safe (GRAS) ingredient.
Tomat-O-Red comes in a range of red-based colors, has a long shelf-life and remains stable under a variety of food processing conditions, including temperature, light and pH variations. The color additive is suitable for many types of food and beverage applications including milk, yogurt, ice cream, surimi, chewing gum, and confectionery products, among others.
The global market for lycopene, both as a color additive and nutritional supplement, is expected to grow substantially in the next few years. It is estimated that the worldwide market for lycopene could reach $84 million by 2018, up from $66 million in 2010, according to a September 2011 BCC Research report.
LycoRed Ltd. is a science-based manufacturer of nutrients for use in dietary supplements, medical foods, functional food and beverages and nutricosmetics. The company also offers microencapsulated ingredients, vitamin and mineral premixes, natural colorants, and cosmeceutical products. The company provides fortification solutions, such as dairy products, beverages and powder drinks, bakery products, confectionery and snacks, breakfast cereals, nutritional bars and meat substitutes. Founded in 1993, LycoRed operates as a subsidiary of Makhteshim Agan Industries Ltd. The company is headquartered in Beer Sheva, Israel with subsidiaries in Yavne, Israel; Ayleford, United Kingdom; Orange, New Jersey; Schaffhausen, Switzerland and Changzhou, China. For more information, please visit www.lycored.com. For information specific to Tomat-O-Red, visit www.lyco-colors.com.
SOURCE LycoRed Limited