Consumers have started to become aware of the negative aspects of conventional meat, including concerns about environmental issues, animal welfare, and consumer health. Alternative meats (i.e., cultured meat and plant-based meat alternatives) have been introduced recently to address these problems, and the rapid growth of the alternative meat market could pose a threat to the conventional meat market. It is necessary to identify the features of alternative meat that affect consumers’ purchasing intentions. Thus, we aimed to: (1) explore the positive and negative feelings toward alternative meat and (2) compare the differences in factors influencing alternative meat buying intentions. This study conducted an online survey with Korean participants in two separate sections (cultured meat: n = 513; plant-based meat alternatives: n = 504), and relationships between the variables and willingness to buy were analyzed using the partial least squares method. The results showed that sustainability and food neophobia are two of the different factors, and food curiosity, unnaturalness, and distrust of biotechnology are the common factors affecting consumers’ purchasing choice. The results of this study provide useful guidelines for effective promotional messages about cultured meat, plant-based meat alternatives, and conventional meat marketers focusing on the positive and negative aspects of significant factors.