Australian Corporation to Obtain Halal Certification in First Half
Preparing for OBM Market Entry in India Within the Year
Cosmax Group is targeting the halal health functional food market. The plan is to strengthen profitability through market diversification into Indonesia, India, and other countries.
According to Cosmax NBT on the 15th, they plan to obtain halal certification in Indonesia during the first half of this year. The Indonesian Ulema Council (MUI) is one of the world's top three halal certification bodies, alongside Malaysia's JAKIM and Singapore's MUIS. To sell health functional foods in Indonesia, MUI halal certification is mandatory.
The entry into Indonesia is being prepared by Cosmax NBT's Australian branch. At the end of last year, Cosmax NBT Australia underwent a factory inspection by an MUI halal auditor and only the final approval remains.
The reason for choosing the Australian branch is that Australian-made health functional foods are gaining attention in the global market for their "clean and safe" image. To produce and sell health functional foods in Australia, TGA GMP certification, which requires pharmaceutical-level quality control, is essential. Cosmax NBT has successfully renewed this certification four consecutive times since 2018.
Once MUI certification is completed, Cosmax NBT plans to start with global client products and then secure local customers.
The Indonesian market is showing growing interest in K-beauty, allowing for various collaborations with Cosmax, the group's cosmetics ODM company. Cosmax Indonesia already obtained MUI halal certification in 2016 and produces all products as halal. It has registered the largest number of new halal products in the cosmetics field (over 2,380 cumulatively) and received the Grand Prize at the 'Halal Awards 2023,' becoming the first Korean-affiliated company to do so.
Cosmax NBT is also planning to enter the Indian market this year. Cosmax NBT is collaborating with local Indian companies that wish to enter the global health functional food market. In the future, they plan to introduce various products such as functional coffee under the Original Brand Manufacturing (OBM) model in the Indian market.
A Cosmax Group official said, "Both the Indonesian and Indian markets have high entry barriers, but their growth rates and living standards are rapidly rising," adding, "We will showcase both K-beauty and K-health functional foods in overseas markets and take responsibility for the 'beauty' of global consumers."
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