This paper reviews the role of void nucleation, growth, and coalescence on the spall failure process in light metals. Based on the review of the open literature, the preponderance of evidence show that void nucleation, growth, and coalescence are prevalent in light metals such as HCP magnesium and FCC aluminum alloys. The as-received microstructure and its evolution play a crucial role on how voids nucleate, grow, and coalesce. Nucleation of voids in these light metals and metallic alloys can be either homogeneous and heterogeneous but at high enough stresses, both homogeneous and heterogeneous nucleation can be activated simultaneously. Secondary phase particles and intermetallics can strongly influence spall failure, through matrix-precipitate/intermetallic debonding or precipitate/intermetallic cracking during shock compression. Studying spall failure through modeling has proven to be an invaluable tool in developing a fundamental understanding of void nucleation, growth, coalescence, and consequent spall failure. However, since new alloys are currently been developed, more experimental and modeling research are needed to further understand how spall failure initiate and grow in these new alloys.