The modern food system is characterized with high environmental impact, which is in many cases associated with increased rates of animal production and overconsumption. The adoption of alternatives to meat proteins (insects, plants, mycoprotein, microalgae, cultured meat, etc.) might potentially influence the environmental impact and human health in a positive or negative way but could also trigger indirect impacts with higher consumption rates. Current review provides a condensed analysis on potential environmental impacts, resource consumption rates and unintended trade-offs associated with integration of alternative proteins in complex global food system in the form of meat substitutes. We focus on emissions of greenhouse gases, land use, non-renewable energy use and water footprint highlighted for both ingredients used for meat substitutes and ready products. The benefits and limitations of meat substitution are highlighted in relation to a weight and protein content. The analysis of the recent research literature allowed us to define issues, that require the attention of future studies.