Recent years have seen a rise in popularity of the vegan or plant-based consumption/production, which is deemed to reduce the environmental burden (Fresán & Sabaté, 2019) since the impacts of animal products can markedly exceed those of vegetable substitutes (Poore & Nemecek, 2018). Our research focuses on sustainable business models applied to vegan production with the aim to scrutinize how companies may achieve positive impacts on people, the planet, and sustainable economic performance. Surprisingly, academic studies by management scholars on this matter are very rare and we discovered that most contributions come from researchers with knowledge and expertise in other disciplines such as environmental science or agricultural and biological sciences. In light of the above-mentioned literature gap, our explanatory research, based on secondary data (i.e. academic and grey literature), offers an understanding of how sustainable business models can be applied to vegan production. Namely, we elucidate the concept of Circular Bioeconomy and its applications through biocyclic vegan production and cultured meat production. Our research highlights that the production of alternative proteins (AP), such as plant-based ones, mostly produced from legumes, may provide benefits not only for the environment but also for human health. However, there is still an ongoing debate on the controversial effects of APs and their nature of being “ultra-processed” food. To deepen this debate, future research should develop an interdisciplinary approach with input from scholars in biotechnology, human nutrition, medicine and management. Our research has not only theoretical implications but also managerial implications for vegan food production which is undergoing a phase of evolution both in terms of technologies and markets.