Meat and meat products are excellent source of protein in the human diet. However, consumption of meat and meat products especially red meats has been questioned as this has been related to human health, sustainability and animal welfare issues. Due to these constraints, meat produced more sustainably or plant-based proteins have gained prominence and are considered alternatives to conventional meat and meat products. Plant-based diets have become popular as a means of reducing the environmental footprint of the diet and promoting human health and animal welfare. The burgeoning demand for plant-based meat analogs (PBMAs) have resulted in unprecedented innovations in the sector around the world during recent past. The definition of PBMAs refers to commercially available food products, derived from plants that are designed to mimic the preparation methods, textural and sensorial qualities and nutritional profile of meat equivalents. PBMAs chronicle the transition from simple soy-based first-generation products to more diversified second- and third-generation products, showcasing the utilization of various plant proteins and advanced processing techniques to enrich sensory experiences. Modern advanced structuring techniques of PBMAs have improved their functionality; however, a need exists to focus on improving the sensory characteristics, nutritional profile, safety and selection of suitable ingredients for the production of meat analogs. Additionally, the consumer acceptability towards meat analogs is quite unsatisfactory which needs to be improved through proper research, creating awareness and clear labelling information and regulation.