Now assistant to Louis van Gaal at Old Trafford, Giggs won 13 top-flight titles at United, and watched Chelsea lift back-to-back crowns in 2005 and 2006 under Jose Mourinho and again in 2010 with Carlo Ancelotti at the helm.
With Mourinho now back at Stamford Bridge, Chelsea have made a flying start to the 2014-15 season, unbeaten in their 12 matches with a six-point lead at the summit.
And as United go through a transitional period, Giggs concedes Mourinho's men are comfortably the best side in the league.
"I think everyone will agree that Chelsea are head and shoulders above anyone else at the moment but it's a process and you just have to try to keep improving and see where that takes you," he told Sky Sports.
"It's never easy winning the league or never easy beating teams in the Premier League, we've seen that this season it's getting more like the Championship has been year after year.
"It's a case where anyone can beat anyone so you have to be at your best every week and hopefully we will be.
"We'll keep improving, get players back on the pitch and, like I say, there's enough talent in that dressing room to take us up the league and try to finish as high as we can."
