The developers and marketers of HEYLO aim to capture a portion of the estimated $16 billion to $20 billion sugar-alternative market, but they are up against significant competition. To surpass pure stevia, which currently enjoys a strong market presence, HEYLO’s new product must perform exceptionally well. As of August 2017, stevia was featured in over a quarter (27%) of new products introduced that utilized high-intensity sweeteners in the past year, according to Mintel. The leading categories for these new product launches included snacks, carbonated soft drinks, dairy, juice drinks, and various other beverages.
The rising use of stevia across diverse products can be attributed to its high sweetness level and easy availability. Companies like Pyure and Apura Ingredients, which offer a range of sweetener options, have rapidly 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 substitute, allowing them to reduce sugar content without sacrificing flavor or mouthfeel. Major 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 choice. For instance, Coca-Cola has developed a stevia-sweetened soda that is sugar-free, calorie-free, and free from the aftertaste commonly associated with many stevia products. This new beverage is set to launch in a small market outside of the U.S. in the first half of this year.
One of stevia’s key advantages is that it is naturally 30 to 40 times sweeter than sugar and contains zero calories. This natural strength allows brands to use significantly less of the ingredient. Furthermore, stevia is relatively easy to cultivate and can be grown in many locations. Unlike previously popular artificial sweeteners such as aspartame, stevia is 100% natural, which aligns with consumer demands 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, including an organic brown sugar alternative, a natural white sugar alternative, and a liquid form.
Jeremy Cage, HEYLO’s chief marketing officer, shared with Food Navigator that the company’s partners are exploring applications for their product in a variety of foods, 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 is usually combined with bulking agents like erythritol, maltodextrin, dextrose, and sugar alcohols such as maltitol and sorbitol, which account for 80% to 90% of the product. These additives can negatively affect digestion and flavor. However, HEYLO incorporates acacia fiber, which mitigates any undesirable flavors for a cleaner taste.
At first glance, HEYLO appears to have a bright future ahead, but it is still in its early stages and must deliver on various promises, such as providing a clean flavor. It also needs to be cost-effective and compatible with the ingredient lists of many food products. If it alters the texture or proves too expensive, HEYLO risks joining the ranks of other promising sweetener alternatives that have failed.
The acceptance of a new sweetener by consumers remains uncertain; they may continue to seek out more natural and authentic-sounding ingredients. One thing is clear: the demand for natural sweetener solutions is a mainstream concern, not just a niche interest, and there is significant profit potential for the successful contender. Additionally, as consumers look for health supplements, the calcium citrate tablet price could influence purchasing decisions, further impacting the market dynamics for sweeteners like HEYLO.