The granulated form of erythritol or stevia might cause problems when used in baking. They tend to take longer to dissolve. To overcome this hurdle, the powdered form of erythritol or liquid stevia is recommended.
Since erythritol has 60-80% sweetness level compared to table sugar, it is recommended that the amount of sugar to be used must be increased, about 1.3 times more. For stevia, it is recommended to know the concentration level first before converting it into sugar. As it comes in a variety of forms for commercial use stevia is more difficult to use in cooking. Important to note that, stevia does not work well with ingredients that are naturally bitter, like dark chocolate as it amplifies the bitter taste.
Erythritol and stevia might both have a sweet taste, but their actual taste is far from the taste of table sugar. As mentioned above, some people might find stevia having a bitter taste. Erythritol, on the other hand, doesn’t have the same mouth sensation as table sugar, as it provides a cooling sensation in the mouth.
That said, sometimes something like erythritol could be used for texture as well as sweetness. I'm not sure in this case if that is relevant or not. I would say just do it and see how it turns out! At the very least, it might not be as fluffy, but it should still taste great...I mean, it's peanut butter pie!
In general, there is no reason not to choose one of the natural sweeteners that don’t affect blood sugar – Stevia, monk fruit, or allulose. They are all great for people with diabetes and you can choose whichever one you think tastes the best. For baking, Stevia in the Raw is my preferred sweetener as it retains its taste and acts the most like sugar when heated.
Artificial sweeteners and sugar alcohols are not terrible, but they do potentially have side effects, the most common of which is digestive issues. I, therefore, see no reason to use them when natural and safe alternatives are available.
Sugar substitutes such as honey and agave nectar are essentially identical to normal sugar when it comes to blood sugar impact. I do keep both sugar and honey in the house for the rare occasions where I want to bake something really decadent (like a birthday cake), but I try to use it as little as possible.
The best erythritol substitute would be one of the granular blends in the table below (e.g., Swerve, Pyure Organic Stevia All-Purpose Blend, Lakanto Monkfruit Sugar Substitute, Trim Healthy Mama Sweet Blend). They tend to be much easier to find and taste a bit better than pure erythritol.
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