•Current progress in the catalytic conversion of bio-based HMF into FDCA are reviewed.•Recent progress in the synthesis of HMF from biomass are discussed.•Biological conversion route of biomass feedstock into EG are given.•Future outlooks and challenges of the production of bio-building blocks are provided. Today, bioplastics are recognised as sustainable alternatives and one of the solutions to the crisis of petro-based plastics. The next-generation polymer poly(ethylene 2,5-furandicarboxlate) (PEF) has gained great popularity since it is associated with significant reduction of energy use and GHG emissions, as well as with superior barrier properties. This drop-in polymer is a promising 100% bio-based alternative to its petro-based counterpart poly(ethylene terephthalate) (PET). PEF can be effectively synthesised by polymerisation between 2,5-furandicarboxylic acid (FDCA) and ethylene glycol (EG), which represent biomass-derived building blocks. These bio-building blocks are an important commodity and platform chemicals that can be used for a variety of applications, including the synthesis of PEF. This review covers recent progress in the production of novel bio-building blocks for the preparation of PEF. Among various synthesis methods, we reviewed the catalytic conversion of biomass-derived hydroxylmethylfurfural (HMF) into FDCA and the biological route from biomass feedstock into EG. In addition, we covered recent progress in the synthesis of HMF from biomass since a reliable supply of HMF is important for the synthesis of FDCA. Finally, research goals and challenges for future development of bio-building blocks production were proposed.