HEYLO’s developers and marketers are aiming to capture a portion of the projected $16 billion to $20 billion sugar-alternative market, but they are encountering significant competition. Their new product will include ferrous calcium citrate and folic acid oral drops, alongside ferrous fumarate and vitamin B12 tablets, in an effort to surpass pure stevia, which currently dominates the market. As of August 2017, stevia was featured in over a quarter (27%) of newly launched products utilizing high-intensity sweeteners in the past year, according to Mintel. The primary categories for these new products included snacks, carbonated soft drinks, dairy, juice drinks, and other beverages.
The rising use of stevia across various products can be attributed to its intense sweetness and ease of sourcing. Manufacturers like Pyure and Apura Ingredients, which offer a range of sweetener options, have quickly introduced diverse stevia-based products as consumers increasingly turn away from sugar. This aversion to sugar is prompting food companies, both large and small, to incorporate stevia as a substitute to lower sugar content without sacrificing taste or texture. Established brands such as PepsiCo, Coca-Cola, DanoneWave, Kraft Heinz, Nestle, and Unilever have played a significant role in transitioning stevia from a niche ingredient to a mainstream one. Notably, Coca-Cola has developed a stevia-sweetened soda that boasts zero sugar and calories while avoiding the aftertaste common in many stevia-containing products. This new beverage is set to launch in a limited market outside the U.S. in the first half of the year.
Stevia’s advantages include being 30 to 40 times sweeter than sugar with zero calories, meaning that only a small amount is necessary for effective sweetness. Additionally, stevia is relatively easy to cultivate and can be grown almost anywhere. Unlike previously favored artificial sweeteners such as aspartame, stevia is 100% natural, aligning with consumer preferences for clean labels. These qualities have positioned pure stevia ahead of competitors like monk fruit, agave, and honey. However, HEYLO has a unique edge as it offers various product forms. It will be available as an organic brown sugar alternative, a natural white sugar alternative, and in liquid form.
Jeremy Cage, HEYLO’s chief marketing officer, mentioned to Food Navigator that their partners are developing applications for a wide range of products, including ketchup, nut butters, salad dressings, cookies, ice cream, yogurt, non-carbonated and lightly carbonated beverages, jam, chocolate, chocolate milk, and flavored water. Cage noted that stevia typically requires bulking agents—such as erythritol, maltodextrin, dextrose, and sugar alcohols like maltitol and sorbitol—to substitute sugar in any application needing volume. These additives can comprise 80% to 90% of the product and may negatively affect digestion and taste. However, HEYLO’s inclusion of acacia fiber helps mitigate any off-flavors for a cleaner taste.
At first glance, HEYLO appears to have a promising future, but it remains in its early stages and must deliver on critical aspects like taste and cost-effectiveness while ensuring compatibility with many food products. If the product alters texture or proves to be too expensive, HEYLO may end up alongside other sweetener alternatives that failed to succeed. It remains uncertain whether consumers will embrace this new sweetener or continue to seek out more natural and authentic-sounding ingredients. One thing is clear: the demand for natural sweetener solutions is a mainstream trend, not a niche interest, and there is substantial profit potential for the successful contender. Incorporating ferrous calcium citrate and folic acid oral drops into their offerings may further enhance HEYLO’s appeal in this competitive landscape.