北上广深“真金白银”支持，化妆品变“生妆品”可期

Core Insights - Synthetic biology is rapidly entering the beauty economy, transforming traditional cosmetics into "bio-cosmetics" [1] - China is the largest cosmetics consumer market globally, yet the industry remains in a "large but weak" stage, presenting opportunities for local companies to leverage synthetic biology [1][5] - The "14th Five-Year Plan" has identified "biomanufacturing" as a new economic growth point, with various regions providing financial support for bio-cosmetics innovation [1][3] Industry Developments - Multiple regions, including Beijing and Guangdong, have introduced policies to support synthetic biology innovation in cosmetics, with Beijing focusing on new raw materials and offering up to 3 million yuan for significant achievements [3][4] - Shanghai and Shenzhen have also implemented measures to promote high-quality development in the cosmetics industry, providing financial support for new raw materials and regulatory assistance [4][5] Market Dynamics - The application of synthetic biology in cosmetics is expected to enhance the value of active ingredients and overall profit margins while reducing carbon emissions [6] - The market for cosmetics in China is projected to exceed 1 trillion yuan by 2024, but challenges such as low industry concentration and insufficient innovation capabilities persist [6][7] Challenges and Opportunities - The acceptance of synthetic biology technology in the cosmetics industry is cautious due to safety concerns and regulatory complexities, which may hinder innovation [7][8] - Regulatory bodies are working to streamline processes for new raw materials and improve the evaluation system to facilitate the introduction of innovative products [8][9] Future Outlook - The year 2024 is anticipated to be a breakthrough year for the industrialization of synthetic biology in cosmetics, with a focus on high-purity and customized products [10][11] - Currently, over 70% of synthetic biology applications are focused on improving existing cosmetic raw material production processes, indicating a preference for lower-risk innovations [10][11]