The alternative meat industry, which aims to replace traditional livestock products, is experiencing growth. However, information regarding this industry remains limited, and plant-based meat analogs that have already entered the market are not growing as rapidly as initially anticipated. Moreover, the traditional livestock industry has significant concerns that the growth of meat analogs will encroach upon the livestock market and strongly opposes the approval of cultured meat and other meat analogs. In this study, we investigated the latest research on the production of plant-based meat analogs and examined the current market status of these products. We also predicted the impact of the growth of meat analogs on the livestock industry. Our findings indicate that the meat analog market has secured a substantial presence in the United States and European markets and is gradually expanding in major Asian countries, such as South Korea, China, and Japan. Additionally, while the meat analog market is growing slowly, the traditional livestock industry continues to expand. Furthermore, our analysis shows that the growth of the meat analog market, including plant-based meat analogs, has had a minimal impact on the traditional livestock market so far. Nevertheless, it is essential to continuously monitor potential market changes resulting from future advancements in meat analog technologies.