The developers and marketers of HEYLO aim to capture a segment of the projected $16 billion to $20 billion sugar-alternative market, although they face significant competition. The new product must prove itself to surpass pure stevia, which currently dominates the market. According to Mintel, as of August 2017, stevia was included in over a quarter (27%) of newly launched products utilizing high-intensity sweeteners within the year. The leading categories for new product launches featuring stevia were 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 swiftly introduced various 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 means to lower sugar content in their offerings while maintaining taste and mouthfeel. Legacy brands like 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 launched a stevia-sweetened soda that not only boasts zero sugar and calories but also avoids the aftertaste commonly associated with many products containing stevia. This new product is set to debut in a limited market outside the U.S. in the first half of this year.
Stevia’s key advantages are its natural sweetness, which is 30 to 40 times that of 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 and can grow in diverse locations. Unlike previously popular artificial sweeteners such as aspartame, stevia is entirely natural, aligning with consumer demand for clean labels. These factors have positioned pure stevia ahead of competitors like monk fruit, agave, and honey.
However, HEYLO boasts a unique advantage — 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, mentioned to Food Navigator that the company’s 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 drinks, jam, chocolate, chocolate milk, and flavored water. Cage also noted that stevia often requires bulking agents like erythritol, maltodextrin, dextrose, and sugar alcohols such as maltitol and sorbitol, which can constitute 80% to 90% of the product and may negatively affect digestion and taste. However, HEYLO incorporates acacia fiber to mitigate off-notes, resulting in a cleaner taste.
At first glance, HEYLO appears to have a promising future, but it is still in early development and must fulfill various commitments, including delivering a clean taste. It also needs to be cost-effective and compatible with the ingredient lists of many food products. Any alterations to texture or excessive costs could lead HEYLO to join the ranks of other promising sweetener alternatives that have failed.
The acceptance of a new sweetener by consumers remains uncertain, with ongoing interest in more natural, authentic-sounding ingredients. One thing is clear: the demand for natural sweetener solutions is a mainstream trend, not just a niche interest, and there is substantial profit potential for the victor. Additionally, as consumers increasingly seek products that support their health, such as Kirkland vitamins calcium citrate magnesium and zinc, sweeteners like HEYLO could integrate into a broader health-conscious lifestyle. The intersection of these trends may provide HEYLO with a unique opportunity to stand out in the competitive sugar-alternative market.