The growing consumer awareness of health, environmental sustainability, and animal welfare has contributed to the increasing demand for plant-based products. In particular, the adoption of vegetarian diets has become a popular strategy for reducing the risk of cardiovascular diseases linked to unhealthy eating habits. This review addresses the potential of replacing eggs in mayonnaise with plant-derived proteins, with a focus on aquafaba, a leguminous byproduct, as an egg substitute. It also discusses the incorporation of natural gums as stabilizers to enhance the texture and consistency of the product. The aim is to highlight the development of plant-based mayonnaise that can match the functional properties and market acceptance of traditional egg-based mayonnaise. The review further considers the role of plant protein-based emulsifiers and various natural gums, such as xanthan gum, tragacanth gum, Arabic gum, and gum nanoparticles, in improving the texture, stability, and overall quality of egg-free mayonnaise formulations. Replacing animal-derived ingredients with plant-based materials represents a significant approach to advancing food sustainability. Aquafaba’s foaming and emulsifying properties make it a promising egg replacer, while natural gums contribute to the desired textural characteristics of the final product. Additionally, the review highlights the industrial scalability of aquafaba and its potential for large-scale plant-based mayonnaise production. The shift from conventional to plant-based ingredients requires careful consideration of sensory attributes and nutritional value to align with consumer expectations. While plant-based mayonnaise offers notable opportunities, it also faces challenges, such as consumer acceptance and the need for further optimization through advanced formulation techniques and technologies.