Could a thirst for healthier options challenge Coca-Cola's lead? Coca-Cola is the UK's most valuable grocery brand, according to a survey. The soft drinks giant is worth £1bn - nearly four times as much as its rival, Pepsi, figures collated by market analysts AC Nielsen show.

Cadbury Dairy Milk is the second most valuable at £524m, ahead of Warburtons bread at £390m, Nescafe Instant Coffee at £375m and Hovis at £363m.

The report puts Coca-Cola's successful penetration of the UK and global market down to its broad appeal and heritage.

"Nothing illustrates the power of the brand quite like the Coca-Cola/Pepsi rivalry," the report says.

"Despite a consistently proven more popular product, Pepsi is still unable to come anywhere near its rival, purely because of the strength of Coca-Cola's brand.

MOST VALUABLE BRANDS
Coca-Cola - £1bn
Cadbury Dairy Milk - £524m
Warburtons - £390m
Nescafe Instant Coffee - £375m
Hovis - £363m
Lucozade - £359m
Robinsons - £327m
Andrex - £303m
Heinz Baked Beanz - £256m
Pepsi - £248m

"Its ability to appeal to both sexes, all ages, all social groups at any occasion sets it apart from virtually all other brands," the report says.

"It has an impressive heritage and has full market penetration in the UK and throughout the world."

But the report warns that the Coca-Cola's brand may face a backlash as consumers begin to drop fizzy drinks in favour of healthier options.

This is reflected in the rise of the Actimel brand. The yoghurt-based drink which claims to strengthen the body's natural defences, was the fastest growing brand in the top 100, while Fanta saw the biggest slump in brand value.

The report by independent brand consultancy Intangible Business was based on three years of sales for each brand and feedback from consumers.