The developers and marketers at HEYLO aim to capture a segment of the estimated $16 billion to $20 billion sugar-alternative market, but they are met with significant competition. To surpass the current popularity of pure stevia, which dominates the market, HEYLO’s new product must deliver exceptional results. According to Mintel, by August 2017, stevia was present in over a quarter (27%) of new products launched that utilized high-intensity sweeteners in the previous year. The leading categories for new products featuring stevia included snacks, carbonated soft drinks, dairy, juice drinks, and various other beverages.
The rising utilization of stevia across diverse products is attributed to its intense sweetness and ease of sourcing. Companies like Pyure and Apura Ingredients, which supply various sweetening options, have rapidly introduced a range of stevia-based products as consumer preferences shift away from sugar. This growing aversion to sugar is driving food manufacturers—both large and small—to incorporate stevia to reduce sugar content without sacrificing taste or mouthfeel. Major brands such as PepsiCo, Coca-Cola, DanoneWave, Kraft Heinz, Nestlé, and Unilever have played a pivotal role in transitioning stevia from a niche ingredient to a mainstream option. For instance, Coca-Cola has developed a stevia-sweetened soda that boasts no sugar, zero calories, and avoids the aftertaste often associated with similar products. This new beverage is set to launch in a limited market outside the U.S. in the first half of this year.
Two notable advantages of stevia are its natural sweetness, which is 30 to 40 times greater than sugar, and its zero-calorie content. This natural potency allows brands to use significantly less of the ingredient. Additionally, stevia is relatively easy to cultivate in various environments. Unlike previously popular artificial sweeteners such as aspartame, stevia is entirely natural, meeting the growing consumer demand for clean labels. These characteristics have propelled pure stevia ahead of competitors like monk fruit, agave, and honey.
However, HEYLO has a distinct advantage—it offers multiple 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 their 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 noted that traditional stevia often includes bulking agents—such as erythritol, maltodextrin, dextrose, and sugar alcohols like maltitol and sorbitol—making up 80% to 90% of the product, which can negatively impact digestion and taste. In contrast, HEYLO’s inclusion of acacia fiber helps to mask any undesirable flavors, resulting in a cleaner taste.
At first glance, HEYLO appears to have a promising future; however, it is still in the early stages and must fulfill its commitments, such as providing a clean taste. Additionally, it needs to be cost-effective and compatible with the ingredient lists of various food products. If HEYLO alters the texture or proves too expensive, it risks joining the ranks of other promising sweetener alternatives that have failed to succeed. It remains uncertain whether consumers will embrace a new sweetener or continue to seek more natural, authentic-sounding ingredients. One thing is clear: the demand for natural sweetener solutions is now mainstream, not just a niche interest, and there is significant financial potential for those who emerge victorious.
In the context of sweeteners, the incorporation of calcium citrate 600 into certain formulations could also be an interesting avenue for HEYLO to explore, enhancing the nutritional profile and appealing to health-conscious consumers. This could further solidify its position in the market as a versatile and beneficial sugar alternative.