Alpinia zerumbet is an important medicinal and ornamental plant species. Drought stress is a major concern for sustainable horticulture crop production under changing climate scenarios. Trehalose (Tre) and 5-aminolevulinic acid (ALA) are osmoprotectants that play important roles in mitigating plant stresses. In this study, the effects of foliar application of 25 mM Tre or 10 mg L−1 ALA on biochemical and physiological parameters of A. zerumbet seedlings and their growth were evaluated under well-watered and drought-stressed (65% of field capacity) conditions. Drought caused reductions in physiological parameters and plant growth. These decreases were accompanied by increases in leaf free proline and glycine betaine concentrations and peroxidase activities. Foliar application of Tre or ALA remediated physiological and biochemical parameters and plant growth. Overall, foliar application of ALA or Tre proved to be beneficial for mitigating drought stress in A. zerumbet.