The motivation of this paper is to provide an overview of the most recent trends and of the future research directions in color image and video processing. Rather than covering all aspects of the domain this survey covers issues related to the most active research areas in the last two years. It presents the most recent trends as well as the state-of-the-art, with a broad survey of the relevant literature, in the main active research areas in color imaging. It also focuses on the most promising research areas in color imaging science. This survey gives an overview about the issues, controversies, and problems of color image science. It focuses on human color vision, perception, and interpretation. It focuses also on acquisition systems, consumer imaging applications, and medical imaging applications. Next it gives a brief overview about the solutions, recommendations, most recent trends, and future trends of color image science. It focuses on color space, appearance models, color difference metrics, and color saliency. It focuses also on color features, color-based object tracking, scene illuminant estimation and color constancy, quality assessment and fidelity assessment, color characterization and calibration of a display device. It focuses on quantization, filtering and enhancement, segmentation, coding and compression, watermarking, and lastly on multispectral color image processing. Lastly, it addresses the research areas which still need addressing and which are the next and future perspectives of color in image and video processing.