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PepsiCo, Trader Joe's Top Innovation List

NEW YORK — PepsiCo and Trader Joe's Markets have been named No. 1 and No. 2, respectively, on the Fast Company magazine list of the 10 most innovative companies in food.

Monrovia, Calif.-based Trader Joe's was cited "for vaulting past Whole Foods to become America's favorite specialty grocer. Though it masquerades as a neighborhood store, Fast Company noted, the retailer's product mix and meticulous stocking helps it generate sales per square foot of $1,750, "twice as much as Whole Foods."

PepsiCo., based in Purchase, N.Y., was cited for its ambitious nutrition research and development operations, including research into making products healthier by slashing fat, sugar and sodium by as much as 25% in the next 10 years without changing their taste.

Other companies cited on the top 10 list were, in descending order, Madecasse, Cargill, Foodhub, Current Energy, Chipotle, McDonald's, Bolthouse Farms and Max Burger.

Fast Company focuses on innovation in technology, ethical economics, leadership and design and on businesses that think beyond traditional boundaries, according to the magazine's website.