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This keto condensed milk recipe is thick, rich, and a little different from the other ones out there.

That was totally by accident, but now I love my version better. It has a caramel, almost toffee-like flavor that gives a rich toasted creaminess to whatever you use it in.

The secret is in the browned butter. I knew browning my butter would turn out this way and I totally didn’t mean to let my butter brown before adding the rest of the ingredients, but now I can’t have it any other way.

Keto Condensed Milk

How to Make Keto Condensed Milk

Sugar-free condensed milk is actually pretty simple to make. You’ll need:

  • heavy cream
  • butter
  • keto sweetener – I used allulose

I prefer to use allulose for this recipe since allulose caramelizes beautifully. If you choose to use Lakanto or erythritol, other popular keto sweeteners, I would go with the powdered versions. This makes it easier for the sweetener to dissolve in your condensed milk for a smooth creaminess.

I used this low-carb condensed milk to make keto ice cream. You can also enjoy this condensed milk as a wonderful addition to your morning coffee, which I find is a quick hack for making bulletproof coffee. You can also use it in keto shakes, milk chocolate truffles, or over a slice of your favorite keto cake.

Want to see me make it the plain and easy way to get it regular and not thick and toffee-flavored? Heres the video.

Delicious Sugar-Free Condensed Milk

You can add spices and flavors to your mix, like nutmeg, vanilla or cinnamon if you’d like. You could even add some almond extract for a wonderful treat. I kept this simple knowing where I wanted to use it.

To make this recipe, simply add all the ingredients to a pan over medium heat and mix well. Watch it closely and keep stirring it until it gets to the consistency you desire. The longer you let it go, the thicker it gets. Keep this in mind if you want pourable milk.

I browned my butter first in the pan before adding all the other ingredients, which resulted in a delicious caramel toffee flavored condensed milk. Give it a try!

keto condensed milk

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keto condensed milk

Thick, Creamy Keto Condensed Milk

Yield: 8oz
Prep Time: 5 minutes
Cook Time: 15 minutes
Total Time: 20 minutes

A deliciously creamy, caramel-flavored sugar-free condensed milk


  • 2 tbsp unsalted butter
  • 1.5 cups heavy whipping cream
  • 1/2 cup allulose


For regular condensed milk, add all ingredients to a pan over medium heat.

For caramel flavored condensed milk, add the butter first and allow it to get slightly brown in the pan before whisking in all other ingredients

Whisk mixture constantly to avoid the bottom burning. Turn off once you've reached your desired thickness

Allow to cool before transferring to your fridge for storage


You should get about a cup of condensed milk. I'm allowing 2 tbsp per serving, which has around 103 calories.

Nutrition Information:
Yield: 8
Amount Per Serving: Calories: 103

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keto condensed milk
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