Meat alternatives are attracting private investment and interest from the research community as possible solutions to meet the growing global demand for proteins in a sustainable, ethical, and healthy way. Using a food systems lens, this report investigates the opportunities and challenges associated with three meat alternatives: plant-based, insects and cultured meat. The analysis is based primarily on a literature review, which is complemented by an illustrative scenario using the OECD-FAO Aglink-Cosimo model. Results from the scenario analysis suggest that a shift from meat to meat alternatives in high and upper middle-income countries could result in a decline in global agricultural land use and GHG emissions from the agriculture, forestry, and other land use sector. Lower demand for meats in these countries would also lead to a decrease in international prices for meats, soybean and cereals, which would benefit consumers but place pressure on farmer incomes.