As the lack of resources required to meet the demands of a growing population is increasingly evident, plant-based diets can be seen as part of the solution, also addressing ethical, environmental, and health concerns. The rise of vegetarian and vegan food regimes is a powerful catalyzer of a transition from animal-based diets to plant-based diets, which foments the need for innovation within the food industry. Vegetables and fruits are a rich source of protein, and bioactive compounds such as dietary fibres and polyphenols and can be used as technological ingredients (e.g., thickening agents, emulsifiers, or colouring agents), while providing health benefits. This review provides insight on the potential of plant-based ingredients as a source of alternative proteins, dietary fibres and antioxidant compounds, and their use for the development of food- and alternative plant-based products. The application of these ingredients on meat analogues and their impact on health, the environment and consumers’ acceptance are discussed. Given the current knowledge on meat analogue production, factors like cost, production and texturization techniques, upscaling conditions, sensory attributes and nutritional safety are factors that require further development to fully achieve the full potential of plant-based meat analogues.