Probably this could be the best alternative to Pinch zoom functionality on Android. Developed by an XDA member jerryfan2000, Assistive Zoom is an android application that lets you to zoom any webpage with just one hand. It means, whenever you are just one hand free and want to zoom a web page, Assistive zoom might come handy. All you need to is, just head on to the link provided at the bottom of this post and download the app. Once installed, you can just hold on the floating zoom button of Assistive Zoom and move up or down to control the scale factor. The app will work on any application that supports pinch to zoom.
Remember you should own a rooted device to install Assistive Zoom. The app has been successfully tested on devices running Android 2.2, 4.0, 4.1, 4.2.
Here are the features of the app,
☆ Works in any pinch to zoom enabled window
☆ Floating trigger button can be disabled/enabled at anytime
☆ Control scale ration at finest level
☆ 3 styles of trigger icon to choose from
☆ Customizable triggering and zooming options
☆ Works from Froyo (2.2) to latest Jelly Bean (4.2)