Forward osmosis (FO) has become an evolving membrane separation technology to recover water due to its strong retention capacity, sustainable membrane fouling, etc. Although a good deal of research has been extensively investigated in the past decades, major challenges still remain as follows: (1) the novel FO membrane material properties, which significantly influence the fouling of the FO membranes, the intolerance reverse solute flux (RSF), the high concentration polarization (CP), and the low permeate flux; (2) novel draw solution preparation and utilization; (3) salinity build-up in the FO system; (4) the successful implementation of the FO process. This work critically reviews the last five years’ literature in development of the novel FO membrane material, structure in modification, and preparation, including comparison and analysis on the traditional and novel draw solutes coupled with their effects on FO performance; application in wastewater treatment, especially hybrid system and integrated FO system; fouling mechanism; and cleaning strategy as discussed in the literature. The current barriers of the research results in each hotspot and the areas that can be improved are also analyzed in detail. The research hotspots in the research and development of the novel membrane materials in various countries and regions have been compared in recent years, and the work of variation in pop research hotspots in the past 10 years has been analyzed and the ideas that fill the blank gaps also have been proposed.