SEOUL -- COSMAX NBT, the health supplement original design manufacturer wing of South Korea's beauty product maker COSMAX, is targeting the Indonesian functional food market with Halal-certified products.
Indonesia with a population of 278.7 million has the world's biggest Halal market that is growing at an average annual growth rate of 6.7 percent to stand at $258 billion by 2030, according to global market analyst firm Inkwood Research.
In 2019, Shinsegae Food, a subsidiary of South Korea's retail giant Shinsegae, released Halal-certified "Daebak" instant noodles in Indonesia to capture young consumers who are familiar with Korean food menus that are frequently exposed through various South Korean dramas and films. The spicy instant noodle series became a hit, causing online hype among young students and consumers in their 20s and 30s.
COSMAX NBT said that the company plans to receive its supplements certified by the Majelis Ulama Indonesia (MUI), Indonesia's top Islamic scholar body. MUI is one of the world's top Halal certification bodies.
According to the origin design manufacturer (ODM), the company's Australian branch will be in charge of the business in Indonesian because Australian-made products bear clean and safe images. Once the Halal certification process is complete, COSMAX NBT will start promoting its products worldwide targeting the global Halal market including India.
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