The Israel-based company's new image includes a new company logo and website, together with other marketing materials.
Already a leader in natural lycopene extracted from tomatoes, LycoRed recently announced that it is reorganizing its subsidiaries to position itself as a major supplier of natural carotenoids. The company said it has started producing beta-carotene derived from fungi and zeaxanthin from berries that it imports to its extraction plant in Israel.
And with the expansion of its portfolio to include a full range of carotenoids and a number of fortification ingredients, LycoRed believes its new logo "is the first symbol that reflects the changes in the company strategy and global activity."
"The logo's font represents our solid ethical commitment and scientific foundation, while the dynamic cycle demonstrates LycoRed's commitment for innovation and ongoing renewal," said marketing director Udi Alroyat.
"LycoRed is growing rapidly and successfully from a small innovative company to an international leader in the carotenoids and fortification ingredients category. The corporate image is part of our strategy to create a distinct market position for LycoRed," he added.
Indeed, the company, which supplies ingredients to both the functional food and dietary supplement industries, said that since the launch of its new website in December, visitor hits to the site have doubled.
Part of the reason is the website's clean and modern red and white design, together with its efficient and easy to navigate structure, said the company.
The leading supplier of natural lycopene, the group is still set to face competition from synthetic carotenoids, often two to three times cheaper.
It has heavily marketed the results of studies demonstrating that its natural lycopene has advantages over the synthetic form, owing to the other tomato compounds that act in synergy with lycopene to fight free radicals.
But studies on natural versus synthetic beta-carotene have not yet revealed major differences in health benefits. And awareness of most of the carotenoids as health ingredients is still low in much of Europe.
However LycoRed will benefit from its expanded carotenoids line to increase its range of 'natural' colours. It already offers tomato red colour in Japan and has recently gained FDA approval for the US.
Parent company Makhteshim Agan reported last month that it had seen an increase of 17.6 per cent in sales of its non-agro products (LycoRed and a hydrogen peroxide and other business) to $151.7 million for the first nine months of the year. This growth "mainly stemmed from an increase in LycoRed's sales," it said.
The company is also seeing growth from studies showing the skincare benefits of lycopene.