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Keto Sweetened Condensed Milk

This Keto Sweetened Condensed Milk recipe serves as the perfect replacement in any recipe calling for traditional, carb-heavy sweetened condensed milk. It also can be used as a frosting and a fat bomb base!

jar of keto condensed milk with fork in it

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Keto Condensed Milk

Sweetened condensed milk is the base for so many delicious treats. But what’s someone living the keto lifestyle to do when a cup of it contains a whopping 116g of carbs?! (And definitely no fiber in sight to subtract…)

Make a freakin’ awesome keto version, of course! 🙂 The best part is this keto version can also be used as a keto frosting and a keto fat bombs base (more on that later).

I can’t take total credit for this recipe — two genius low carb bloggers (credits to them in my recipe card!) posted recipes which I adapted to make my very own version of Keto Sweetened Condensed Milk. I have to say I am seriously in love with my version and can’t stop eating it. We even used it in one of our Keto Coffee recipes. It is basically one of our most popular Keto Desserts.

(The funny thing about that is I actually cut out dairy nine years ago because I felt it contributed to breakouts. However, I make exceptions to test out every single dairy-containing recipe on this site. But this stuff? I haven’t gone a day without eating it since I made it. My skin has been fine so maybe I need to re-evaluate my dairy sensitivity. Or, this stuff is just magical…)

Even better, you only need three ingredients to make this recipe!

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Keto Sweetened Condensed Milk Ingredients

Heavy Whipping Cream

Swerve Confectioners Sweetener

Swerve Confectioners is an all-natural sweetener that looks, tastes, and measures just like real confectioners sugar! Because sugar alcohols do not count toward net carbs, it contains 0g net carbs.

4th & Heart Vanilla Ghee

This amazing vanilla-infused ghee is super creamy and has a sweet, buttery flavor to it. (Learn more about why I use ghee in the “Why use ghee in this recipe?” section below.)


How to Make Keto Sweetened Condensed Milk

keto condensed milk process shots ending with green spatula

To make Keto Sweetened Condensed Milk, start by adding the heavy whipping cream and Swerve Confectioners to a medium saucepan.

Bring the mixture to a boil. (Note that my photo was taken slightly before it was fully boiling… oops!)

Then reduce the heat so the mixture is at a simmer. Whisk it every few minutes until the volume is reduced by one-third. This will take about 35-40 minutes.

The consistency you’re going for is that of a runny pudding. Look at the photo with my spatula in the mixture — it only thinly coats the spatula. The mixture will thicken a lot when it cools.

keto condensed milk four process shots overhead view of pan

Once the mixture has reduced, remove the pan from the heat and whisk in the ghee. If you’re not using it right away, transfer it to an airtight jar. Can you see how much the mixture has thickened after I mixed in the ghee and started to put it in the glass jar? Compare how it sticks to the spatula in this photo to the previous one!

By the way, I highly recommend using a funnel to pour your Keto Sweetened Condensed Milk into your jar. You don’t want to waste a drop of this stuff!

keto condensed milk being poured from a bowl into a mason jar

Store your Keto Sweetened Condensed Milk in an airtight jar in the fridge. This condensed milk will solidify quite a bit in the fridge to the consistency of a thick frosting. To make it pourable again, just warm up the amount you need in a pan on low, or you can place the jar in a bowl of hot water. (Do not microwave it — it will change the texture.)

Why use ghee in this recipe? (And what is it?!)

Some homemade (keto or otherwise) sweetened condensed milk recipes use butter in addition to the dairy and sweetener; some use nothing at all. (In fact, traditional sweetened condensed milk is simply milk and sugar.)

The purpose of the butter, which is added at the end, is to add thickness and flavor to the finished product. However, in my version, I decided to use ghee. Ghee is essentially clarified butter, but it has been heated longer to bring out a richer, nuttier flavor than traditional clarified butter. I find the flavor of high-quality ghee (like the brand I mention in this post) to have a rich, even more “buttery” flavor (and more creaminess) than regular butter… so ghee it was in this recipe!

ghee used in keto condensed milk on a porch railing

Who can argue with a food that beautiful? And I used vanilla-flavored ghee, so there is no need to add vanilla flavoring. (If you’d prefer not to use vanilla-flavored ghee, see the recipe card for a substitute with butter and vanilla extract. I don’t think it turns out quite as good, but it definitely works.)

How to Use Keto Sweetened Condensed Milk as a Frosting

When you stick this stuff in the fridge, it thickens up to a frosting consistency. Feel free to spread it on your fat bombs, keto brownies, and other keto desserts!

How to Use Keto Sweetened Condensed Milk as a Fat Bomb

Pour Keto Sweetened Condensed Milk into fat bomb molds (click here for my favorite mold) and stick them in the freezer. About two hours later, you’ll have sweet and tasty fat bombs!

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Important Notes about the Nutrition Facts for Low Carb Condensed Milk

First, although many heavy whipping cream nutrition labels state 0g carbs, there are actually 0.4g carbs per tablespoon. Manufacturers can get away with this because of labeling laws. 🙁 This isn’t a huge deal when you use a small amount, but this recipe uses 2 cups of heavy whipping cream.

So, this recipe does contain carbs — 12.8g total, which I have divided across 30 servings on the nutrition label. The trickiness comes in because we’ll all condense the liquid just a bit different, so unless you’re using the whole batch, the macros won’t be exact. I suggest measuring how much condensed milk you end up with and using the total nutrition facts below to create your own per-serving nutrition:

Nutrition facts for the entire recipe: 2,040 calories / 12.8g carbs / 0g fiber / 210g fat / 9.9g protein

The good news is this recipe is still extremely low in carbs!

overhead view of fork inside jar full of keto sweetened condensed milk

Can I Eat Condensed Milk on the Keto Diet?

You can eat sweetened condensed milk on the keto diet as long as you use low carb ingredients for the sweeteners and milk products. Most sweetened condensed milk products and recipes call for sugar, or come premade with heavy sugar ingredients.

How Do I Make Sweetened Condensed Milk Keto-Friendly?

You can make sweetened condensed milk keto-friendly by using a zero carb sweetener and heavy whipping cream instead of sugar and whole milk. Sweeteners like erythritol and allulose are acceptable sweeteners for the keto diet and work very well to make sweetened condensed milk recipes.

More Keto Desserts

If you like keto desserts like this one, then try some of our other popular treats!

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I hope you love this Keto Sweetened Condensed Milk recipe! If you liked this post, I would so appreciate you giving it a share by using the social sharing icons. THANK YOU!

overhead view of fork inside jar full of keto sweetened condensed milk

Keto Sweetened Condensed Milk

This Keto Sweetened Condensed Milk can be enjoyed in so many recipes!
4.88 from 24 votes
Print Pin Rate
Course: Condiment, Dessert, Snack
Cuisine: American
Keyword: keto condensed milk, keto sweetened condensed milk, low carb condensed milk, sugar-free condensed milk
Prep Time: 10 minutes
Cook Time: 40 minutes
Total Time: 50 minutes
Servings: 30
Calories: 68kcal

Ingredients

  • 2 cups heavy whipping cream
  • 2/3 cup Swerve confectioners
  • 3 tbsp vanilla ghee, melted (see notes for substitution options)

Instructions

  • Add heavy whipping cream and Swerve to a medium saucepan, whisking to combine.
  • Bring to medium heat and wait for the mixture to come to a boil.
  • Once the mixture has come to a boil, lower the temperature so the mixture is at a simmer.
  • Whisk every few minutes until the volume of the mixture is reduced by one third. This will take about 35-40 minutes. At this point, the mixture will be the thickness of a runny pudding. This is okay! It will thicken quite a bit as it cools down.
  • Once the mixture has reduced, remove pan from heat and whisk in the ghee.
  • If not using right away, cool and store in an airtight jar in the fridge.

Notes

  • This condensed milk will solidify quite a bit in the fridge, to the consistency of a thick frosting. To make it pourable again, just warm up the amount you need in a pan on low, or you can place the jar in a bowl of hot water. (Do not microwave it — it will change the texture.)
  • If you would prefer not to use vanilla ghee, substitute with 3 tbsp butter and ½ tsp vanilla extract.
  • For a cinnamony variation, add one cinnamon stick to step 1. For a stronger vanilla flavor, add one whole vanilla bean. (Discard before adding ghee.)
Important note about the nutrition facts for this recipe
First, although many heavy whipping cream nutrition labels state 0g carbs, there are actually 0.4g carbs per tablespoon. Manufacturers can get away with this because of labeling laws.
So, this recipe does contain carbs — 12.8g total, which I have divided across 30 servings for the purposes of the nutrition label. The trickiness comes in because we’ll all condense the liquid just a bit different, so unless you’re using the whole batch, the macros won’t be exact. I suggest measuring how much condensed milk you end up with and using the total nutrition facts below to create your own per-serving nutrition:
Nutrition facts for the entire recipe: 2,040 calories / 12.8g carbs / 0g fiber / 210g fat / 9.9g protein
Nutrition Facts
Keto Sweetened Condensed Milk
Amount Per Serving
Calories 68 Calories from Fat 63
% Daily Value*
Fat 7g11%
Saturated Fat 4g25%
Cholesterol 25mg8%
Sodium 6mg0%
Potassium 11mg0%
Carbohydrates 0.43g0%
Fiber 0g0%
Sugar 0g0%
Protein 0.33g1%
Vitamin A 235IU5%
Vitamin C 0.1mg0%
Calcium 10mg1%
* Percent Daily Values are based on a 2000 calorie diet.

Nutrition Disclaimer



Nutrition facts are included as a courtesy only. They are accurate to the best of our knowledge based on the ingredients and brands used, but their accuracy is not guaranteed. If applicable, sugar alcohols have already been removed from the total carb count.

47 Comments

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Recipe Rating




  • I’m not a fan of Swerve due to an aftertaste issue; however, I like Pyure. Have you tried any other sweeteners with this recipe? Do you know if Pyure or other Erythritol/Stevia based sweeteners can be exchanged evenly?

    • Hi Lisa! I haven’t tried it with other sweeteners yet so I can’t vouch for their effectiveness, but it is definitely worth trying if you don’t like Swerve.

      I just took a look at the Pyure = sugar conversion chart, and it looks like you need half the amount of their All Purpose Blend as you would need sugar. Swerve is about as sweet as sugar, so that leads me to believe you would need 1/3 cup Pyure All Purpose for this recipe. You will lose some bulk, so you’ll either need to simmer it for a longer time or sprinkle in a bit of xanthan gum (a keto-friendly thickener) at the end and blend well (I suggest using an immersion blender) to make sure it’s fully incorporated.

      I hope this helps! If you try it with Pyure, I’d love to hear your results. Thanks, and enjoy!

  • 5 stars
    Hello!
    How long is the shelf life for this condensed milk?
    I’m the only one on a keto diet at home and I try my hardest to lessen spoilage when I make stuff especially for desserts. 😊

    • Hi Vanessa! Totally understandable – a spoiled keto dessert is a tragedy! 🙂 The batches I’ve made haven’t lasted too long, but I believe it should be safe up to the expiration date of the heavy whipping cream.

  • 5 stars
    Omg! I love sweetened condensed milk! Going to try this. I use to eat it out of the can. I’m on keto because sugar addiction. I will have to be very careful ^¬^

    • Yay! Enjoy!! 🙂 I’m a former sugar addict, so I completely understand how tough it can be to quit sugar. It is 100% worth it, though! Stay strong!

  • 5 stars
    Oh my goodness! When disappeared on my Facebook newsfeed I knew I had to try it. I can totally relate to the girl that said she ate it out of the can. This is phenomenal. I licked the pan, the spoon, the spoon holder and the drops that fell on the counter! 😋 Can’t wait to try it in my coffee.

    • Hi Cindy Sue! I am so happy to hear you loved it! I admit I laughed out loud at your comment because I did all of those things too. It’s just tooo good not to!

      Thanks for giving it a try!

    • Hi Tina! It’s about 1 tbsp per serving. It’s a bit tricky to be 100% on this one since we’ll all condense the recipe down a bit differently (see my notes in the recipe card). The most precise thing to do is to weigh your final batch and divide it by 30 to match the per-serving nutrition facts.

      Enjoy!

  • 5 stars
    I’m going to use the substitute for ghee – the 3 Tbsp of butter + vanilla. Does the butter need to be softened or melted to make this mixture?

    • Hi Katherine, My apologies for the late reply! I somehow completely missed your comment. Yes, the ghee or butter should be melted before adding it.

  • 5 stars
    Hi Jessica. The nutrition facts on swerve confectioners say that it has 3g of carbs per tsp, this would add 72 more carbs to the carb count, or do we not count this? I’m new to keto, made a pie with mine and I’m worried that I can’t eat it 🙁

    • Hi Katie! You will be happy to know that sugar alcohols do NOT count toward net carbs — you can subtract them from the total carb count, making Swerve net carb-free. My nutrition label software doesn’t allow me to input sugar alcohols, so I subtract them for convenience. Enjoy that pie! 😀

  • So i used butter because i didnt have ghee. I like vietnamese coffee which is why i was really excited for this! Unfortunately the sweetened condensed milk solidified when i added the iced coffee to it and i had little fat butter balls at the top which tasted horrible…..any suggestions?

    • Hi Sierra! Because of the butter (or ghee) in this recipe, you will get a little bit of that when adding it to iced coffee. Check out this iced coffee post and look at the photo at the bottom – the small flecks are ghee.

      I understand how that could bother some people though, so what you could do is make it without any butter at all. It won’t thicken quite the same, but it will give you pure creamy sweetness with no fat butter balls floating in your coffee 🙂

  • I made this recipe but left out the butter. It worked really well and I let it cool on the counter and then put it in the fridge. When I took it out to use it, the swerve had recrystallized! Does the butter somehow keep this from happening?

    • Hi Beth! Oh no! I’m sorry to hear that. Did you by any chance microwave it when you took it out of the fridge to use it? I hadn’t had any issues with it crystallizing until I microwaved some one day. Also, to be sure – did you use Swerve Confectioners and not Granular? Granular will definitely recrystallize.

  • 5 stars
    I have used sweetened condensed milk to make caramel for caramel pie in the past by putting it in the crock pot covered in water over night. Do you think this keto sweetened condensed milk version would make caramel if I did the same thing?

  • 5 stars
    I made THE best low carb Pumpkin Spice Creamer with this !!!! To DIE for. I’m a Starbucks baby, and this is as close as I’ve come yet. Can’t be keto because I used 1/4 cup pure Grade A maple syrup (we make our own every Spring) but boy oh boy! Thank you for this recipe! And making it without the ghee renders it PERFECT for cold brew iced coffee!

    • Hi Cheryl! I haven’t tried it, but I believe it should work with powdered monk fruit (regular will make it grainy).

  • 5 stars
    Love this! So yummy,! I couldn’t wait to make until I had the type of Ghee you suggested. I had some I made so used that with vanilla. Having it in my coffee now, but can’t wait to try all the other options you suggested. Thank You!

    • Hi Laura, Thanks for your feedback! Evaporated milk has 13g carbs per 1/2 cup, so it can be a bit high in carbs for some people on keto. If it fits into your macros though, go for it!

  • im gonna give this recipe a try and then use it for a no churn ice cream recipe I used to use. Basically ill whip 2 cups of heavy cream until stiff peaks form, then add in this whole batch of condensed milk, layer it with some keto cookies I made and freeze. Fingers crossed. I hate all the ingredients in “Low carb” ice cream.

  • 5 stars
    Excellent. I did not use ghee but added butter and vanilla extract.
    I made cheesecake and macaroons with it. Great to have on hand to make fat bombs.
    Thanks for the recipe.

  • 5 stars
    Your keto condensed milk was sooo good I didn’t even bother using it in the recipe I was going to add it to. I just enjoyed it straight!

  • 5 stars
    I love this Keto Condensed Milk recipe! I fully intended to pour the entire mixture into molds and stick it in the freezer for fat bombs but my girlfriend and I ate several servings each as soon as it cooled. It is wonderful as is just for a dessert or as fat bombs. I used the vanilla-flavored ghee.

  • 5 stars
    I saw this recipe for Keto sweetened condensed milk months ago but never tried it. I purchased the vanilla-infused ghee you suggested and made my first sweetened condensed milk last night. This stuff is great! The recipe is simple but it’s hard to be patient while waiting for the mixture to reduce! It did turn out to be worth the wait since this stuff is great in my coffee and I made some fat bombs with half of the recipe for treats next week.

  • I bought some heavy cream to make this, no issue there, but my ques is when all said/done & stored in a jar for later use how much (oz or cup size) is the finished product? I have a little Mason jar (6 oz) will it fit in that? Thanks

  • 2 stars
    I didn’t have ghee, so I used butter & followed the directions. everything was good, altho abit on the liquidity side no matter the time ‘simmered’ for, then once cooled I put it in the fridge, til I needed and made coffee creamer with it. it definitely thickened (too much) I had to heat up some to make it liquid again and then it was chunky, so its a ‘no go’ for me… sorry

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