Borealis Foods founder and chief executive officer Reza Soltanzadeh, a former physician with Doctors Without Borders, says the spark for the business came during his time working with malnourished and food-insecure populations in India.Handout
Borealis Foods Inc. believes it has developed an innovative solution to food insecurity: instant noodles. The Oakville-based food technology company’s Chef Woo instant ramen contains 20 grams of organic, plant-based protein – the equivalent of three eggs – while eliminating the food additives and fillers in the conventional, shelf-stable staple.
Borealis Foods founder and chief executive officer Reza Soltanzadeh, a former physician with Doctors Without Borders, says the spark for the business came during his time working with malnourished and food-insecure populations in India.
“The idea of how malnutrition and poverty go hand in hand stuck with me,” Mr. Soltanzadeh says.
Today, Chef Woo is widely available at stores such as Walmart for $1.97, which Mr. Soltanzadeh says has never been achieved.
“You cannot get 20 grams of protein for [that price],” he says.
Borealis Foods’ innovative approach comes at a time when rising food prices and food insecurity are driving record levels of Canadians to food banks. Food Banks Canada’s 2024 HungerCount tracked more than two million visits to food banks in March, 2024, a 90-per-cent rise from March, 2019.
Right idea, wrong price point
Mr. Soltanzadeh’s first foray into food technology was as an investor. As the appetite for plant-based proteins rose, he became an early investor in food technology startups including Impossible Foods, the company behind the innovative plant-based Impossible Burger. But the space left him jaded when he noticed a clear disconnect between the products being created and the price tag attached.
“When you’re science-centric, the food cost becomes irrelevant,” Mr. Soltanzadeh says. “A $14 [plant-based] patty serves no purpose … It’s beyond reach for most of the population.”
He assembled a team of food scientists to develop amino acid-rich, protein-dense, ready-to-eat meals. Affordability was essential to his mission.
“And when I say affordable, I mean globally affordable,” Mr. Soltanzadeh says.
Since launching in 2019, Borealis Foods’ products – including Chef Woo and its other line Ramen Express – have expanded to 33,000 stores globally. The business recently launched a collaboration with British celebrity chef and restaurateur Gordon Ramsay and the company’s food service line Woodles – a school-approved whole grain-rich ramen noodle – is sold in more than 6,000 schools across the U.S. as part of the government-subsidized lunch program. The company listed on the Nasdaq in February, 2024.
Finding success in comfort foods
Borealis Foods recently launched a collaboration with British celebrity chef and restauranteur Gordon Ramsay.Supplied
Sadaf Mollaei, the Arrell Chair in the Business of Food at the University of Guelph, says familiarity plays a big part in the success of Borealis Foods’ instant noodles.
“Sometimes we see these new products – like alternative proteins – that might have good nutrition, but consumers don’t really understand it … it’s so novel that it’s hard to incorporate into your dietary habits,” Dr. Mollaei says. “But this is a product that everybody knows; it’s noodles and it’s a go-to product for many people.”
According to Agri-Food Canada data, Canada is the sixth-largest importer of pasta products (including instant noodles) globally. But tapping into that appetite is no easy task, says Dr. Mollaei. Brands such as Nongshim, Mr. Noodles, and Sapporo Ichiban are well-established.
Dr. Mollaei says Borealis Foods benefits from a straightforward approach to marketing its product.
“Sometimes when you emphasize the innovative and technology part, you [lose] some customer base,” she says.
Jean-Marc Demers, CEO of Braque, a food-brand marketing agency, knows the challenge well having helped Canadian candy company Mondoux carve out market share from global companies such as Mars and Mondelez with its Sweet Sixteen brand.
Like Sweet Sixteen, which offers vegan and vegetarian spins on classic candy, Borealis Foods has found its unique value proposition in plant-based protein and pronounceable ingredients.
“This is exactly where the market is going,” Mr. Demers says. “We want those guilty pleasures, but at the same time, if you make it guilt-free, it’s much more interesting.”
The innovation goes beyond the product: Borealis Foods sells Chef Woo via online channels such as Amazon, Instacart and Well.ca. Monthly online sales surged more than 878 per cent between May, 2023, and June, 2024, and subscription sales through the brand’s Amazon page grew 250 per cent in 2024.
Since launching in 2019, Borealis Foods’ products – including Chef Woo and its other line Ramen Express – have expanded to 33,000 stores globally.Supplied
Mr. Soltanzadeh says the direct-to-consumer (DTC) approach has helped the company gather data and refine the product. For example, through DTC channels, Borealis Foods has learned that younger adults and teenagers are one of its fastest-growing markets and that consumers are actively looking for Kosher and Halal products.
“We’ve got 15-year-olds on social media arguing about the source of protein because they go to the gym or they’re playing football or basketball or whatever it is and understand that they need to consume high-quality protein,” he says. “This is a huge generational change.”
Mr. Soltanzadeh sees partnerships with large multinationals as a key step toward tapping into that market and continuing his mission of tackling malnutrition and food insecurity.
“We want our IP and our technology in as many food products as possible around the world,” he says.
After instant noodles, he envisions high-protein, functionally nutritious snacks – the sort of guilty pleasures that Mr. Demers referenced, but with a guilt-free spin.
“I call it stealth health,” Mr. Soltanzadeh says. “If you have to force people to make a change in their habits, you have a long road to go.”