Meat production and consumption have been claimed to have negative impacts on the environment, and even on the consumer’s health. In this sense, alternative sources of protein, mainly meat substitutes and cultured meat, have emerged due to those perceived negative effects. Our paper carries out a choice experiment to analyze the preferences of 444 Spanish consumers and their willingness to pay for plant-based and cultured meats, as compared to conventional meat. Spain was considered of interest for this study due to its significant gastronomic culture, with high-quality meat products that make a great contribution to the economy, meaning that this could be a suitable and also challenging market in which to test alternative sources of protein. The findings show that consumers’ motivations and their interactions with these products are complex. Additionally, a cluster analysis allowed us to identify three types of consumers in terms of preference for these products: price-sensitive millennials, conscious/concerned consumers, and indifferent consumers. Only one group showed some level of acceptance of these alternative products meats.