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The second-seed crashed out in the quarter-finals to the German world No.6 in a result which means Novak Djokovic is guaranteed to keep his world No.1 ranking.
Alcaraz had been hoping to renew his rivalry with Djokovic following their epic Wimbledon final last year as well as battles in Cincinnati and at the ATP Finals.
The 20-year-old is not too downbeat about his defeat in the last eight, though, and played down the absence of his coach Juan Carlos Ferrero, who is back in Spain recovering from knee surgery.
It has been a good tournament for me, making quarter-finals, playing good tennis,’ two-time Grand Slam champion Alcaraz said in his press conference.
‘I’m sad with my level today, because I have been playing good tennis, the round before this one with a lot of confidence. Serving pretty well.
‘But in general I leave the tournament happy. Forgetting about today’s level. Obviously quarter-final of a grand slam is good. It’s not what I’m looking for, but it’s not bad.