Among Beyond Meat’s recent filing of 109 trademark applications, including Beyond Eggs, Beyond Tun’ and Beyond Crab; one trademark application stood out more than others. Filed on August 12, Beyond Milk’signals the alt meat giant’s imminent entry into the booming alt dairy sector.
The epic list of trademark applications includes Beyond Fish, Beyond Ham, Beyond Lamb, Beyond Shrimp, Beyond Cheese, Beyond Pulled Chicken, Beyond Turkey and Beyond Steak.
However, the most recent application filed is for “BEYOND MILK” which covers ” the categories of
Alt milk on the rise while dairy declines
But would it be a prudent move to enter alt dairy, a competitive and saturated market with so many established players? New research from Label Insight, a Nielsen IQ company, proves that alt milk is far from a fad and will continue to grow as cow milk sales continue to decrease. Analyzing how consumers are shopping for plant-based milk, the fresh research shows that:
- Milk alternative sales rose by 13.5% showing significant growth compared to cow milk sales which decreased by 1.2%
- Though consumers spent $10.88 billion on cow’s milk vs. $2.19 billion on milk alternatives, there was a 3.8% increase in alternative milk buying households, vs. a -2.3% decrease in cow’s milk buying households
- Oat milk sales increased by 117.9% indicating that consumers are interested in buying new, alternative forms of milk beyond cow and nut-based milks
- US American households spent an average of 6.1% more on milk alternatives in 2020 showing consumers have made the switch to non-dairy lifestyles
The Label Insight data also reveals that 44,000 consumers searched for “vegan” products on Amazon, specifically, “vegan meat’, “vegan chicken”, “vegan burgers” and “vegan fish” – suggesting that the other applications such as Beyond Fish are likely to succeed massively.
Much like the Beyond Meat shareholders.