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Biomanufacturing with broad applications in various industries is projected to reach a market value of ~30 trillion USD by 2030, accounting for more than one third of the global manufacturing output. Future biomanufacturing of industrial products will use novel synthetic biology tools and advanced bioprocesses to convert abundant biomass and waste resources into value-added products with comparable or superior properties to replace current petroleum-based products, thus enabling circular bioeconomy with affordable energy, economic growth, and innovation in renewable energy and chemicals production. However, biomanufacturing faces many challenges in its development that requires fundamental research in synthetic biology and novel bioprocesses involving multidisciplinary teams and academic-industry partnerships. In particular, aging and lifespan of microbial cells have been largely overlooked in industrial fermentation. Only recently have microbiologists realized that many microorganisms including yeasts (e.g., Saccharomyces cerevisiae) and bacteria (e.g., Escherichia coli) have chronological and replicative life spans which dramatically impact cell viability and longevity. In this article, we will give our perspective on how synthetic biology may contribute to overcoming some challenges facing industrial biotechnology for fuels and chemicals production from renewable sources, highlighting the importance of understanding and regulating microorganism’s lifespan and aging.