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Beyond Meat Applies for Beyond Milk Trademark

Beyond Meat applies for trademark for Beyond Milk with U.S. patent officials.

Alternative meat company Beyond Meat  (BYND) - Get Beyond Meat, Inc. Report filed a trademark application for Beyond Milk with the U.S. Patent and Trademark Office.

Shares of the El Segundo, Calif., company were down 2% to $118.83 at last check Monday.

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A posting on the patent office's website said the company applied for a trademark on August 12 for Beyond Milk.

Beyond Meat did not immediately respond to a request for comment, nor did the Irvine, Calif., office of Orrick, Herrington & Sutcliffe, which is listed on the application.

"The trademark application has been accepted by the Office (has met the minimum filing requirements) and has not yet been assigned to an examiner," the office said on its website. "New application will be assigned to an examining attorney approximately 3 months after filing date."

A statement under the Goods and Services section of the application reads "Bases for making milk shakes; coffee or tea beverages with milk or milk substitutes."

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The non-dairy milk market has been growing steadily. According to Future Market Insights analysis, worldwide sales of non-dairy milk alternatives doubled between 2016 and 2020.

The dairy-alternatives market is estimated to be worth around $16 billion this year, the group said.

Oat milk and vegan food producer Oatly Group  (OTLY) - Get Oatly Report on Monday reported second-quarter results that missed estimates but forecast full-year revenue that beat expectations.

Danone  (DANOY)  recently said that is introducing Silk Greek Style Coconutmilk Yogurt Alternatives,

Earlier this month, Yum Brands’  (YUM) - Get Yum! Brands, Inc. (YUM) Report Pizza Hut unit said it was offering Beyond Meat’s plant-based non-meat pepperoni topping on pizzas in almost 70 locations in five U.S. cities, starting Tuesday.

Also in August, the company posted a wider-than-expected second-quarter loss and forecast current quarter revenue growth that missed analysts' estimates.

In July, Beyond Meat unveiled plant-based chicken tenders at restaurants across the U.S.