The aim of this study was to evaluate how transitioning to plant-based meat alternatives (PBMAs) and plant-based beverages (PBBs) contributes to mycotoxin exposure among Italian and British consumers. We retrieved mycotoxin occurrence data from 413 PBMAs and PBBs from the Italian and British markets and combined them with age-specific modelling. The targeted mycotoxins were aflatoxin B1, aflatoxin B2, aflatoxin G1, aflatoxin G2, fumonisin B1, fumonisin B2, HT-2, T-2, ochratoxin A, zearalenone, deoxynivalenol, alternariol, alternariol monomethyl ether, tentoxin, enniatin B, enniatin B1, enniatin A, enniatin A1, and beauvericin. Dietary exposure was assessed under 25%, 50%, and 100% substitution scenarios of meat and milk with PBMAs and PBBs. Italian consumers were more exposed than British consumers to AFs, DON, and FUMs, while British consumers were more exposed to OTA, HT2 + T2, BEA, and ENNs. Infants and children were the most vulnerable groups due to higher intake per body weight. Across both countries, AFs resulted in total margins of exposure <10,000, indicating a potential health concern in nearly all scenarios. OTA risk increased with higher substitution levels, particularly in younger populations. The highest cumulative non-tolerable exposures were observed for Alternaria toxins (AOH + AME) and HT-2 + T-2, especially under combined PBMA and PBB scenarios. The level of substitution was associated with safety threshold exceedance, with increases from 25% to 100% substitutions indicating substantial amplification of cumulative risk indicators. These findings indicate that large-scale dietary transitions toward plant-based alternatives may modify mycotoxin exposure patterns, highlighting the need for targeted surveillance and alignment of sustainability and food safety objectives.