Krug has jumped four places to oust Bollinger from first place for the first time in three years.
Louis Roederer finished second and Pol Roger came third in this year’s list, which is available to download.
More than 200 of the world’s top masters of wine, sommeliers, educators and journalists took part in the annual poll, which pits champagne brands against each other.
Eight brands fell out of favour and dropped down the list this year. Twelve brands climbed up the rankings – Pol Roger catapulted 17 places to become the third most admired brand in 2016.
Five re-entries and three new entries, in the form of Jacquart, Alain Thienot and Le Mesnil, made it into the top 30. Billecart-Salmon is the only brand to keep the same place in 2016 as last year.
Christian Davis, editor of The World’s Most Admired Champagne Brands, said: “Once again, the findings may raise a few eyebrows among the ferment that comprises the champagne/ wine trade. But bear in mind, this is not a science – it is about people’s perceptions.
“But these are the perceptions of people who work in the trade, buying, selling, listing wine all the time. They are the professionals. Dismiss their views and our findings at your peril.”