Cosmax Inc, South Korea's original development manufacturing (ODM) cosmetics company, said its subsidiary PT Cosmax Indonesia has been granted halal certification from Majelis Ulama Indonesia (MUI), allowing the company to make a headway into the growing halal cosmetics market.
MUI's halal certification is accepted across 40 countries and will allow Cosmax's products to meet consumer demands in the world, including Southeast Asia and the Middle East, said head of PT Cosmax Indonesia Lee Kun-li in a statement.
Salaam Gateway estimates that the global halal cosmetics market was worth $20 billion in 2014 and will grow to reach $45 billion by 2020. The Southeast Asian sector is currently estimated at $1 billion.
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