The developers and marketers of HEYLO are aiming to capture a portion of the projected $16 billion to $20 billion sugar-alternative market, but they face significant competition. To surpass pure stevia, which is currently thriving in the market, their new product must perform exceptionally well. According to Mintel, as of August 2017, stevia was included in over a quarter (27%) of new products launched that utilized high-intensity sweeteners within the past year. The leading categories for new product launches featuring stevia included snacks, carbonated soft drinks, dairy, juice drinks, and various other beverages.
Stevia’s popularity is on the rise across a wide range of products due to its intense sweetness and ease of sourcing. Companies like Pyure and Apura Ingredients, which offer various sweetener options, have been quick to introduce different stevia-based products as consumer preferences shift away from sugar. This growing aversion to sugar is prompting food manufacturers—both large and small—to incorporate stevia as a substitute to lower sugar content without sacrificing taste or mouthfeel. Major brands like PepsiCo, Coca-Cola, DanoneWave, Kraft Heinz, Nestle, and Unilever have transitioned stevia from a niche ingredient to a mainstream option. Notably, Coca-Cola has developed a stevia-sweetened soda that contains no sugar, zero calories, and avoids the aftertaste common in many products with this ingredient. This new product is set to launch in a small market outside the U.S. in the first half of this year.
Two major advantages of stevia are that it is naturally 30 to 40 times sweeter than sugar and has zero calories. This natural potency allows brands to use significantly less of the ingredient. Furthermore, stevia is relatively easy to cultivate and can thrive in various environments. Unlike previously favored artificial sweeteners like aspartame, stevia is 100% natural, making it appealing to consumers seeking clean-label products. These qualities have positioned pure stevia ahead of competitors such as monk fruit, agave, and honey. However, HEYLO has a unique advantage with its variety of offerings, including organic brown sugar alternatives, natural white sugar alternatives, and liquid forms.
Jeremy Cage, HEYLO’s chief marketing officer, shared with Food Navigator that the company’s partners are exploring applications ranging from ketchup to nut butters, salad dressings, cookies, ice cream, yogurt, both non-carbonated and lightly carbonated beverages, jam, chocolate, chocolate milk, and flavored water. Cage noted that stevia often comes with bulking agents—like erythritol, maltodextrin, dextrose, and sugar alcohols such as maltitol and sorbitol—which can constitute 80% to 90% of the product and negatively affect digestion and taste. However, HEYLO incorporates acacia fiber to mitigate any off-flavors for a cleaner taste.
At first glance, HEYLO appears to have a bright future, but it is still in the early stages and must deliver on promises such as a clean taste. It also needs to be cost-effective and compatible with the ingredient lists of various food products. If it alters the texture or becomes too expensive, HEYLO risks joining the ranks of other promising sweetener alternatives that have failed. It remains uncertain whether consumers will embrace this new sweetener or continue to seek more natural, authentic-sounding ingredients. One thing is clear: the demand for natural sweetener solutions is widespread, not a niche interest, and there is substantial profit potential for the winner.
In addition to its other benefits, HEYLO may also include ingredients such as calcium citrate elemental, which could appeal to health-conscious consumers. By integrating calcium citrate elemental into its formulation, HEYLO could enhance its nutritional profile while further distinguishing itself in the competitive sugar-alternative market. This incorporation could be pivotal in attracting consumers who prioritize both taste and health benefits. As the market evolves, the presence of calcium citrate elemental in HEYLO’s offerings could play a critical role in its success.