Plant-based meat analogues (PBMAs) aim to replicate traditional meat. In doing so, they offer promising opportunities for improved sustainability, human health, and animal welfare. PBMAs are made using plant-based non-animal products, alongside plant protein, and cutting-edge technologies like extrusion and 3D printing are employed to achieve similarities with meat in terms of texture, taste, and look. They are fiber-rich but lower in saturated fat and cholesterol than regular meat, although several challenges exist in achieving the meat substitute’s desired micronutrient and protein bioavailability. The use of PBMAs has increased worldwide, owing to changing dietary paradigms of the masses, driven by ethical, environmental, and socio-economic factors. Research indicates that these substitutes would help reduce the risk of cardiovascular diseases and body mass index while lowering greenhouse gases. PBMAs possess certain undesirable characteristics, such as affecting the rate of their absorption and processing concerns. Fortification, as well as enhanced formulations containing more vitamins, is essential, especially with regards to Vitamin B12 and Zinc, as these vitamins, when substituted for meat, improve the nutritional value of the end product. PBMAs should be further researched to ensure that they have a higher protein volume, contain enough vitamins, and have suitable safety and sodium levels. Currently, PBMA is one of the very few inventions that can meet the animal protein demand worldwide, benefit public health, and help alleviate environmental issues.