Depending on how that color palette is used, it could fall into part of Trademark law call Trade Dress. The “look and feel” of a product can be distinct to communicate to consumers what it is and what brand it is. The colors used are part of the Trade Dress. Think about iconic consumer products like iconic Red Bull energy drink can:

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Its a skinny 473ml can with the blue and silver colors with the red and yellow Red Bull company logo on it. If you see this even if the letters were in a different language than one you understand, you’d know immediately this is a can of Red Bull. This is Trade Dress.

Does this mean that other companies…

• … can’t use a skinny 473ml can? No.
• … can’t sell energy drinks in cans? No.
• … can’t sell foil covered chocolate bars with blue & silver packaging? No.
• … can’t sell energy drinks, in blue & silver skinny cans? YES!

So the color palette by itself isn’t trademarked under Trade Dress rules, but the color palette is part of a protected Trademark usage.