The first ever Champagne Masters has been held by The Drinks Business at Fitzroy Square in London.

Two teams of judges were assembled to smell, sip and spit their way through dozens of champagnes in four categories: Non-Vintage, Vintage, Prestige Cuvee and Rose.

"We were blessed with both an extremely high calibre of judges and entries which made the tasting an educational and exciting exercise," said Patrick Schmitt, editor of The Drinks Business.

"The champagnes in the vintage category were particularly thrilling ... vintage Champagne offers extremely good value."

A "handful of outstanding wines" in the prestige cuvee and non-vintage categories will be announced in September's issue of the publication, Mr Schmitt went on to say.

Recently, The Drinks Business reported that champagne is one of the strongest sectors of Australia's wine market, growing by 15 per cent year-on-year in 2010, with Moet Hennessy Australia doubling its profits last year.