Radiant Orchid is the 2014 Color of the Year, Pantone announced today. Opposite the color wheel from 2013's Color of the Year, Emerald, it is a complex color with undertones of fuchsia, purple and pink, that encourages innovation. It also emanates great joy, love and health in the home, according to Pantone.

"We know that purple is known as magical. It's a color that speaks to creativity ... it enhances your feeling of being more creative, being more innovative. And that is so important in everyday life. And I think this is a color that can imbue you with that sense of uniqueness," said Leatrice Eiseman, executive director of the Pantone Color Institute.

Radiant Orchid is available in Valspar Signature paints for sale at Lowe's stores.

"As we move into 2014, we are beginning to embrace bold paint colors in the home for accent walls or to revamp key furniture pieces. Radiant Orchid is a surprisingly versatile, modern hue that evokes a sense of creativity and movement that will elevate any room to a new dimension," said Eiseman.

For more than a decade, Pantone’s Color of the Year has influenced product development across the design industries. Past colors include:

PANTONE 17-5641 Emerald (2013)

PANTONE 17-1463 Tangerine Tango (2012)

PANTONE 18-2120 Honeysuckle (2011)

PANTONE 15-5519 Turquoise (2010)

PANTONE 14-0848 Mimosa (2009)

PANTONE 18-3943 Blue Iris (2008)

PANTONE 19-1557 Chili Pepper (2007)

PANTONE 13-1106 Sand Dollar (2006)

PANTONE 15-5217 Blue Turquoise (2005)

PANTONE 17-1456 Tigerlily (2004)

PANTONE 14-4811 Aqua Sky (2003)

PANTONE 19-1664 True Red (2002)

PANTONE 17-2031 Fuchsia Rose (2001)

PANTONE 15-4020 Cerulean (2000)