you can use g_strdup_printf()
to build a string and pass it to gtk_label_set_markup()
:
char *str = g_strdup_printf ("<span font=\"14\" color=\"red\">"
"<b>\t\tRed: %d</b>"
"</span>",
value);
gtk_label_set_markup (GTK_LABEL (labelRed), str);
g_free (str); // remember to free the string allocated by g_strdup_printf()