MW Are you prepared to pay 10% more for Coca-Cola? That could be the result of a switch to cane sugar.

By Charles Passy

And there's a possibility that other food and beverage companies may also reformulate their products, adding to the potential impact on consumers

Some Coca-Cola fans may be rejoicing over the possibility that the iconic soft-drink brand will again sweeten its signature product with cane sugar instead of high-fructose corn syrup. At least that's what President Donald Trump indicated in a Truth Social post on Wednesday, saying the version made with cane sugar is "just better!"

But here's something they may not be so happy about: It's quite likely that Coke made with cane sugar will cost more, according to food-industry experts, simply because cane sugar is more expensive than high-fructose corn syrup. Other foods or beverages that are similarly reformulated in the future could also end up costing more.

And there's a real possibility that companies will make the switch, especially given the fact that Robert F. Kennedy Jr., head of the Department of Health and Human Services, has repeatedly warned of the health risks associated with high-fructose corn syrup. In fact, he's vowed to ban it.

Bryan Quoc Le, a food scientist who runs a consulting firm, said the price hike for reformulated foods and beverages that currently have high-fructose corn syrup as a primary or secondary ingredient could be as much as 10%.

For a Coke fan who drinks at least one 12-ounce can a day, that could mean an added cost of at least $20 over the span of a year, based on the current average pricing for soda purchased in a 12-pack, according to a MarketWatch analysis.

But because a range of items on supermarket shelves, including bread, pastries and condiments, are currently made with high-fructose corn syrup, the cost of ditching that ingredient could begin to add up. And any price hikes would be coming on top of the food inflation consumers have already faced in recent years.

Nevertheless, price-conscious consumers may not need to panic just yet, according to Lee.

"It's unlikely that companies will make the switch unless a true ban is imminent," he told MarketWatch. "The cost differential is not worth the potential consumer benefit or appeal. While there is a core group of consumers who do care about the presence of cane sugar versus high-fructose corn syrup, many consumers have little concern regarding the difference."

Despite Trump's statement, Coca-Cola (KO) has not officially said it's making a change to its formula, although it didn't completely dismiss the possibility. In statement released earlier this week, the company said: "We appreciate President Trump's enthusiasm for our iconic Coca-Cola brand. More details on new innovative offerings within our Coca-Cola product range will be shared soon."

Coca-Cola declined MarketWatch's request for comment, citing a quiet period prior to its earnings release.

Of course, food and drink companies could opt to reformulate their products but not pass on the added costs to consumers. When the Langer Juice Company made the switch several years ago from high-fructose corn syrup to cane sugar in its cranberry juice cocktail, it didn't hike the price, even though the manufacturing cost increased by about 50 cents for each 64-ounce container, according to Bruce Langer, the company's president.

Langer said the reason was that the company wanted to stay competitive as it positioned its product against other brands.

At the same time, Langer warned that switching could be an especially pricey proposition for brands considering making the change. He noted that there's a relatively limited supply of cane sugar in the world - and much of it is sourced from Brazil, whose products could now be hit with a 50% tariff under a proposal from the Trump administration.

And if more companies opt for cane sugar, the laws of supply and demand will come into play, Langer noted.

"I think the pricing would shoot up," he said.

-Charles Passy

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July 18, 2025 09:58 ET (13:58 GMT)

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