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It seems to depend somewhat on the input image. Software like ImageOptim[0] brute force the best compression by trying multiple different compressors/modes and picking the best result and there is rarely a consistent winner.

That said, the best solution today is probably to just use a newer image format like WebP or (soon) AVIF if you need to meaningfully reduce image sizes.

[0] https://imageoptim.com/versions.html

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JPEG XL beats AVIF, in many cases. See for example: https://twitter.com/jonsneyers/status/1563442356493230080

Eagerly awaiting https://caniuse.com/jpegxl

cjxl also has a near perceptually lossless mode (-d 1) that actually works and unlike cwebp it does not ignore color space chunks when converting from PNG so the result really does look the same.

But browser support is still disabled by default and AFAIK is still missing support for animations for both Chrome and Firefox. This was/is a problem with webp where aninated support came later without any new mime type so you can't fall back to gif / apng if it is not supported using <picture> - hopefully this will be handled better with jxl.

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