Unless you are using insects making meat nature's way is extremely inefficient. (the same can be said for photosynthesis, but meat is a fractional multiplier on top of that) Faux meats are making progress and may relieve some of the pressure as people in the developing world gain wealth. NPR's the salt blog notes some of the current activity including faux fish.
These companies have a way to go. Beyond Meat is probably the most advanced in terms of having something on the market. It had great press prior to its introduction. I haven't had meat in decades, but could easily tell their "chicken" wasn't the real thing, but it wasn't bad and probably could be made to work well in many chicken dishes. On paper it may well be healthier than the real thing but, at over $9 a pound, it is much more expensive. Regular customers are probably Whole Foods types who do meatless mondays.
I'd rather see progress in lower cost high quality produce, but this may be a gateway to reduce meat consumption to sustainable levels.