If you are getting this error, chances are your PHP install is missing the zip extension.
A couple lines below the error message you should see the following sentence.
The following file extensions are supported: tar tgz gz bz2.
If the keyword “zip” is missing from that list then you are indeed missing this component.
Here are the steps to install it.
pecl install zip
Add this to your php.ini
extension=zip.so
Restart your webserver