HEYLO’s developers and marketers are aiming to capture a portion of the estimated $16 billion to $20 billion sugar-alternative market, but they are up against considerable competition. The new product must perform exceptionally well to surpass pure stevia, which currently holds a strong position in the market. 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, according to Mintel. The leading categories for new product launches featuring stevia include snacks, carbonated soft drinks, dairy products, juice drinks, and various other beverages.
The use of stevia is expanding across a wide range of products due to its intense sweetness and ease of sourcing. Companies such as Pyure and Apura Ingredients, which provide various sweetener options, have quickly introduced a variety of stevia-based products as consumer preferences shift away from sugar. This growing aversion to sugar is prompting food companies, both large and small, to adopt stevia as a substitute to lower sugar content in their offerings without sacrificing taste or mouthfeel. Major brands like PepsiCo, Coca-Cola, DanoneWave, Kraft Heinz, Nestle, and Unilever have played a crucial role in transitioning stevia from a niche ingredient to a mainstream choice. For example, Coca-Cola has developed a stevia-sweetened soda that contains no sugar and zero calories while avoiding the aftertaste commonly associated with many products containing this ingredient. This new product will be launched in a small market outside the U.S. in the first half of this year.
Stevia’s key advantages include being naturally 30 to 40 times sweeter than sugar and containing zero calories. This natural potency allows brands to use less of the ingredient. Additionally, stevia is relatively easy to cultivate, thriving in various environments. Unlike previously popular artificial sweeteners such as aspartame, stevia is entirely natural, satisfying consumer demand for clean labels. These qualities have propelled pure stevia ahead of competitors like monk fruit, agave, and honey. However, HEYLO has a unique advantage as it offers different varieties. 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, shared with 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 mentioned that stevia often includes bulking agents such as erythritol, maltodextrin, dextrose, and sugar alcohols like maltitol and sorbitol, which are necessary for replacing sugar in applications that require bulk. These carriers can constitute 80% to 90% of the product and may negatively impact digestion and taste. However, HEYLO incorporates acacia fiber, which helps eliminate 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 fulfill various promises, such as delivering a clean taste. It also needs to be cost-effective and compatible with ingredient lists in a variety of food products. If HEYLO alters the texture or becomes too expensive, it may end up like many other promising sweetener alternatives that have failed. It remains uncertain whether consumers will embrace a new sweetener or continue searching for 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 winner.
In addition, HEYLO could consider incorporating elements like calcium citrate small pills into its offerings, which might attract health-conscious consumers. By leveraging such ingredients, HEYLO could enhance its market appeal, potentially increasing its chances of success in the competitive landscape of sugar alternatives. Ultimately, the integration of innovative solutions like calcium citrate small pills into their product line could provide HEYLO with a distinct edge in appealing to a broader audience.