The developers and marketers behind HEYLO are eager to capture a portion of the projected $16 billion to $20 billion sugar-alternative market, but they are entering a landscape filled with competition. To surpass the current dominance of pure stevia, which is thriving in the market, HEYLO’s new product must perform exceptionally well. As of August 2017, stevia was a key ingredient in over a quarter (27%) of new products incorporating high-intensity sweeteners launched in the past year, as reported by Mintel. The primary categories featuring new stevia-infused products include snacks, carbonated soft drinks, dairy, juice drinks, and various other beverages.
The rising popularity of stevia across numerous products can be attributed to its intense sweetness and ease of sourcing. Companies like Pyure and Apura Ingredients, which supply a variety of sweetener options, have promptly introduced different stevia-based products as consumer preferences shift away from sugar. This growing apprehension about sugar is motivating food manufacturers, both large and small, to incorporate stevia as a substitute to lower sugar content without sacrificing taste or texture. Notable brands like PepsiCo, Coca-Cola, DanoneWave, Kraft Heinz, Nestle, and Unilever have played a significant role in elevating stevia from a niche ingredient to mainstream acceptance. Coca-Cola has even developed a stevia-sweetened soda that boasts zero sugar, zero calories, and lacks the aftertaste often associated with stevia products. This innovative beverage is set to launch in a small market outside the U.S. in the first half of this year.
Two of 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 be grown in various environments. Unlike previously favored artificial sweeteners such as aspartame, stevia is entirely natural, aligning perfectly with consumer demand for clean labels. These benefits have propelled pure stevia ahead of competitors like monk fruit, agave, and honey.
However, HEYLO boasts a distinct advantage: it comes in various 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, and flavored water. Cage pointed out that stevia typically requires bulking agents—such as erythritol, maltodextrin, dextrose, and sugar alcohols like maltitol and sorbitol—to replace sugar in applications needing bulk or body. These carriers can constitute 80% to 90% of the product and may negatively impact digestion and taste. However, HEYLO’s use of acacia fiber helps to eliminate any off-flavors for a cleaner taste.
At first glance, HEYLO appears to have a promising future, but it is still in its early stages and must deliver on several commitments, particularly regarding a clean taste. Additionally, it must be cost-effective and compatible with the ingredient lists of many 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 thrive.
It remains uncertain whether consumers will embrace a new sweetener or continue to seek out more natural and authentic-sounding ingredients. One thing is clear: the demand for natural sweetener solutions is a mainstream phenomenon, not merely a niche interest, and there is significant profit potential for the victor. Furthermore, incorporating components like liquid calcium and magnesium could enhance HEYLO’s appeal, as consumers increasingly favor products that offer additional health benefits. By integrating liquid calcium and magnesium into their offerings, HEYLO may position itself favorably in a competitive market, appealing to health-conscious consumers looking for natural sweeteners with added nutritional value.