“In terms of industry scale and volume, recombinant collagen will definitely surpass hyaluronic acid.”
The beauty industry has encountered various challenges this year. The total retail sales of consumer goods in China for cosmetics was 245.3 billion yuan(about $34.1 billion) from January to August 2022, down 6.4% year-on-year. However, China’s efficacy skincare market has been growing rapidly in recent years, with a compound annual growth rate of 23.4%, and is expected to reach 41.1 billion yuan(about $5.7 billion) in 2022. CHAILEEDO invited Qian Song, CEO of TRAUTEC to share with us the cosmetic trends in China.
CHAILEEDO: What are the trends of new ingredients next year?
Qian: With the progress of technology, the development of synthetic biology also brings new changes and new trends to the cosmetic industry. It solves the problem of the difficulty of extracting some ingredients, while it can avoid the over-exploitation of natural ingredients, such as squalane from Amyris, and most importantly, it can replace some synthetic chemicals with safety risks. At the same time, “Promote the innovation of synthetic biology technology” was also written into the “14th Five-Year Plan” for bio-economic development released by the National Development and Reform Commission in May this year.
CHAILEEDO: Will recombinant collagen become the next hyaluronic acid?
Qian: In terms of industry scale and volume, recombinant collagen will definitely surpass hyaluronic acid. Under the promotion of national policy, the recombinant collagen industry has been developing rapidly. Collagen has better physical and chemical characteristics, and with the development of technology, the application in medical field will be expanded, not only in Aesthetics Medicine, but also in oral, orthopedic, reproductive and other fields. From a scientific point of view, recombinant collagen and hyaluronic acid are a good combination, and the two substances have complementary advantages rather than substitution.
CHAILEEDO: What is the most important initiative for companies in the face of regulation changes?
Qian: TRAUTEC is a technology-based company with synthetic bioscience-related research and production technology as its core. In the face of regulatory changes, firstly, at the level of industrial foundation and development, we will increase investment in R&D, make full use of our own bio-intelligence platform, and conduct basic research on ingredients in conjunction with universities to further improve the analysis of the safety and efficacy of our products for cosmetic and medical use, so as to build a solid industrial foundation. Secondly, in the strategic development direction of the company, we will continue to be oriented towards medical purposes and demand products with quality higher than regulations. Thirdly, in terms of marketing and sales strategy, we will strictly follow the requirements of the NMPA to promote the industry to become bigger and stronger, and to promote the internationalization of new Chinese ingredients and products.