In recognition of the impact of current dietary patterns on human and environmental health, dietary shifts towards sustainable diets are considered crucial to adequately feed a growing global population within planetary boundaries. Whilst the composition of sustainable diets varies to account for regional specificity, consensus exists on the need to reduce meat and increase plant protein intakes in sustainable dietary patterns for high-income settings. Due to the high environmental impact resulting from meat production and observational evidence of higher risks of negatives health outcomes associated with excess red and processed meat, a reduction in meat consumption is considered a ‘win-win’ for both people and the planet. However, meat is an important contributor to dietary protein and micronutrient intakes and plays an important sociocultural role, particularly in the UK and Ireland. Whilst a strong evidence-base exists on the environmental and health benefits associated with increased consumption of whole plant foods such as legumes, nuts and seeds, these foods may not address the barriers associated with lower meat diets. Plant-based meat alternatives (PBMAs) are products created to replicate the taste, texture, appearance and functionality of meat and therefore may provide an acceptable means of facilitating the shift to healthy and more sustainable diets. However, less is known about the health and environmental impact of substituting meat with PBMAs. Therefore, this review summarises the literature on the nutritional, health and environmental impact of PBMAs to better understand the role of these products in healthy and sustainable diets for the UK and Ireland.