Mangroves stand out as one of the most diverse and biologically significant natural systems in the world. Playing critical roles in maintaining the health and productivity of coastal ecosystems, mangroves provide a range of services and functions, including habitat for local fauna and flora, food and other goods, carbon sequestration, and protection from natural disasters such as storm surges and coastal erosion. It is also evident that mangroves face several threats, which have already led to the gradual depletion of mangrove areas worldwide. Based on the analysis of current and related historical literature and data, this review summarises mangrove functions and the threats and challenges associated with mangrove management practices. Our findings suggest that coastal development, expanded aquaculture, deforestation, climate change, and other associated implications such as eutrophication, diseases, and pollution are the major factors posing threats to mangrove sustainability. We also highlight the various challenges, such as land use conflict, a lack of stringent regulatory actions, inadequate policy and government frameworks, and a lack of community awareness, that underlie ineffective mangrove management. The implementation of inclusive and coordinated approaches involving stakeholders from different backgrounds and interests, governmental and non-governmental organisations, and academia is essential for mangrove restoration and sustainable mangrove management by adapting mitigation strategies.