Weetabix is UK grocery's most effective innovator according to a new report which ranks the market's top 25 revenue grossing food and drink companies.

The report, published exclusively in The Grocer this week, was the brainchild of strategy consultants OC&C who wanted to measure the staying power and effectiveness of NPD over two years.

PepsiCo, Cadbury Schweppes, General Mills and Müller all scored highly on the back of a raft of innovation across a two-year period that helped drive growth of their businesses.

Premier Foods, Coca-Cola and Warburtons were among the bottom five performers.

"Innovation is a big investment for companies and can be their saving grace in hard times but only if they get it right," said joint author Will Hayllar, associate director at OC&C.