Yes, pareve means neutral in the context of Jewish dietary laws (kashrut)
Neutral does not mean on the fence. Neutral is the middle, that or them what can be related to by all sides even if they cannot relate to each other.
Neutral colors are muted shades that are not on the color wheel and are generally considered to be versatile and easy to pair with other colors:
Gray: A mix of black and white, gray is a classic neutral color.
White: A pure and complete color that can represent innocence, cleanliness, and peace.
Beige: A neutral color option.
Black: A neutral color that can add drama and intensity to a palette.
Brown: Light brown tones can be used to create a simple, sophisticated scheme.
Ivory, champagne, and off-white: Alternatives to pure white.
BM White Dove: A soft, neutral white with subtle gray undertones
Pareve is a designation indicating that a food contains neither milk nor meat products, by-products, or derivatives. It is critical to understand that the designation of pareve is given solely on the basis of halacha (Jewish Law). When a product is marked pareve (excepting the rare case of mislabeling - a subject for another discussion) by a reputable Kashrus agency, the religious consumer knows that the product meets all halachic criteria and may be used with any meal. But relying on this certification as a 100% certainty for medical reasons is a decision that requires careful consideration on part of the consumer, along with an understanding of the realities of food processing.
There are many consumers who depend on the kosher designation of pareve on food items they purchase. Obviously, the pareve designation is important to the Kosher Consumer, who looks for pareve items that may be eaten with any type of meal, whether meat or dairy. Another category of consumer looks at the kosher symbol on a product not for religious reasons, but as a sign of a more pure or clean product. There is a third category of consumer that looks to the pareve designation on a product and makes, literally, a life or death decision to use the food item on the basis of that kosher symbol.