The developers and marketers of HEYLO aim to capture a portion of the projected $16 billion to $20 billion sugar-alternative market, but they are up against significant competition. To surpass pure stevia, which currently dominates the market, the new product must perform exceptionally well. As of August 2017, stevia was featured in over a quarter (27%) of new products launched with high-intensity sweeteners in the past year, according to Mintel. The leading categories for new products utilizing stevia included snacks, carbonated soft drinks, dairy, juice drinks, and other beverages. The demand for stevia is rising across various products due to its intense sweetness and ease of sourcing. Manufacturers like Pyure and Apura Ingredients, which offer a range of sweetener options, have swiftly introduced different stevia-based products as consumer preferences shift away from sugar.
This growing aversion to sugar is prompting both large and small food companies to incorporate stevia as a substitute to reduce sugar content without sacrificing taste or mouthfeel. Major brands such as PepsiCo, Coca-Cola, DanoneWave, Kraft Heinz, Nestle, and Unilever have helped transition stevia from a niche ingredient to a mainstream option. Coca-Cola has launched a stevia-sweetened soda that boasts no sugar, zero calories, and eliminates the aftertaste often associated with stevia-containing products. This new beverage is set to debut in a small market outside the U.S. in the first half of this year.
Stevia’s advantages include being naturally 30 to 40 times sweeter than sugar and containing zero calories. This natural potency allows brands to use significantly less of the ingredient. Additionally, stevia is relatively easy to cultivate, thriving in various environments. Unlike previously favored artificial sweeteners such as aspartame, stevia is 100% natural, aligning with consumer demand for clean labels. These qualities have propelled pure stevia ahead of competitors like monk fruit, agave, and honey.
However, HEYLO does have a unique edge as it offers a variety of forms. The product 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 the company’s partners are exploring applications ranging from ketchup to nut butters, salad dressings, cookies, ice cream, yogurt, non-carbonated and lightly carbonated beverages, jam, chocolate, chocolate milk, and flavored water. Cage also noted that stevia is often combined with bulking agents—such as erythritol, maltodextrin, dextrose, and sugar alcohols like maltitol and sorbitol—to replace sugar in applications requiring bulk or body. These carriers comprise 80% to 90% of the product and can negatively affect digestion and taste. However, HEYLO’s inclusion of acacia fiber helps mitigate any undesirable flavors, resulting in a cleaner taste.
While HEYLO appears to have a promising future, it is still in its early stages and must deliver on various expectations, including a clean taste. It also needs to be cost-effective and compatible with ingredient lists across many food products. If it alters the texture or becomes too expensive, HEYLO could end up like many other sweetener alternatives that failed to succeed. It remains uncertain whether consumers will embrace a new sweetener or continue seeking more natural and authentic-sounding ingredients. One thing is clear: the demand for natural sweetener solutions is a mainstream trend, not merely a niche interest, and there is significant profit potential for the successful contender.
Incorporating various health benefits, including ferrous calcium citrate and folic acid oral drops, could also enhance HEYLO’s appeal. By highlighting these additional benefits, HEYLO can position itself as not just a sweetener but also a source of essential nutrients, potentially increasing its market attractiveness and consumer acceptance.