The market for natural food coloring is estimated at approximately 1.3 Billion USD globally, with red considered the most challenging. In fact, according to a 2013 poll by DDW, amongst industry technologists, 39% considered natural red the biggest challenge facing the industry (meat, dairy and bakery sectors), especially if one is looking to avoid carmine.
Given that the product is used in food substances, red food coloring and its production process is regulated by the FDA and other health government bodies; however, lycopene derived from tomatoes as an additive, not being a new component, is already globally-approved and used by a variety of producers worldwide.
The primary potential customers for lycopene are as follows, listed in projected order of adoption: meat premix manufacturers, dairy product manufacturers (yogurt, ice cream, etc.), oil and margarine manufacturers, confectionery manufacturers, color cosmetics manufacturers.
BioCapSOL plans to utilize natural extracts with a unique combination of capsulation to address the needs of controlled release for active ingredients as scent, insect repellants as well as any functionalization that requires a time dependent activation. The functional additives for textiles used for sports outfits, hotels, military and schools can benefit from BioCapSOL’s natural extracts containing functional capsules.