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Preheat the oven to 350°.
Wash zucchini, wipe it off, and cut off the very tip, not the stem. Place the grater onto a sheet of paper towel and use the large grate side of the box grater to grate zucchini all the way down to the stem. Discard the stem.
Spread grated zucchini out a little so it’s no longer in a mound and use another sheet of paper tower to gently pat the excess moisture.
Whisk together zucchini, eggs, oil, vanilla extract, and sugar just until combined.
Add flour, cinnamon, nutmeg, salt, baking soda, and baking powder and gently whisk together just until incorporated and smooth.
Grease a ceramic or glass bread baking dish all over the bottom and up the sides and pour bread batter into it.
In a medium bowl, combine brown sugar, white sugar, cinnamon, and flour. Mix well until all ingredients are incorporated evenly.
Pour in melted butter and carefully fold it in with a large fork. You will want to be careful so you don’t over-mix. Streusel should look like large crumbs and not paste.
Spread streusel topping evenly all over the batter.
Bake at 350° for 55-60 minutes. You can use a thermometer to check if the bread reached internal temperature of 200° in the center. If you don’t have an instant read digital thermometer, you can use your fingers to gently press in the center and see how firm it is or do the toothpick test.
Whisk powdered sugar and warmed heavy whipping together and drizzle it over the baked bread.