Pour the pomegranate juice into a large saucepan. Bring to a vigorous boil over medium-high heat, then reduce heat to low and simmer for about an hour until thickened to about ½ cup.

Add the room temperature unsalted butter, granulated sugar, light brown sugar, and heavy whipping cream to the thickened juice. Stir over low heat until melted and combined.

Raise the heat to medium and cook the mixture, checking the temperature with a candy thermometer until it reaches 255-260℉, about 10-15 minutes.

Remove from heat and stir in the vanilla, sea salt, and optional food coloring, ensuring even distribution.

Pour the caramel mixture into a greased loaf pan and let sit at room temperature for 15 minutes before refrigerating for about 2 hours until set.

Cut into pieces using a greased knife and wrap each in wax paper.