Meat substitute tastes a bit like processed meat but it isn't. Meat eaters eat meat substitute as well as vegetarians. Meat substitutes typically have similar protein to meat without saturated fat and most or all have high fibre content.
Sadly many meat substitutes are high in salt so it's best to check the label and see how much salt is in the product. If you avoid adding further salt to a meal that has meat substitute this should limit the problem. Additives make meat substitutes taste like meat and the long term effects are uncertain. Therefore meat substitutes and other processed foods (like burgers, bacon, sausages made with real meat) probably shouldn't be eaten more than, say three times a week.
Meat substitutes prepared at home are still likely healthier than fast foods bought from take-aways where you have no idea at all what the sugar or salt content is, what fat they use or what additives are in the food.
- Seitan This is a gluten based meat sutstitute.