The increased consumer interest in plant-based milk analogs as an alternative to conventional dairy milk has led to extensive research on their ingredients. Plant-based milk analogs are primarily composed of plant-based sources, along with water and other ingredients. The formulation of plant-based milk analogs aims to mimic the sensory, nutritional and functional properties of conventional milk while addressing concerns related to texture, stability and taste, as well as consumers’ acceptance and health. Various additives have been incorporated to improve physicochemical properties, prevent phase separation, enhance flavour and extend the shelf life and stability of plant-based milk analogs. Additionally, novel processing techniques have contributed to enhanced quality and consumer acceptance of plant-based milk analogs. The selection of ingredients and processing methods is vital to mitigate the challenges associated with plant-based milk analogs, including undesirable flavours, colour inconsistencies and stability issues.