After nearly 18 months of bad news, recent articles suggest that the U.S. economy is finally on the mend. Consumer confidence surged in May, hitting its highest level since September.
During the past few weeks, suppliers have told Happi that business is beginning to pick up again, leading many to believe that the worst is over.
Of course, we still have a long way to go. Kline & Co. estimates that U.S. sales in the cosmetics and toiletries market grew only by 0.3% to $35.6 bilion in 2008, the lowest level of growth since 1991.
Some of the bright spots in the cosmetics and toiletries sector include skin care and oral care.
Overall, Kline predicts sluggish growth for the next couple of years, but after 2010, the segment should pick up again.