Making your own sweetened condensed milk at home might sound intimidating, but this keto-friendly version is surprisingly simple. With just four ingredients and a little patience, you’ll have a rich, creamy, and perfectly sweetened mixture that can be used in dozens of recipes.

Whether you’re prepping a batch of Peppermint Keto Fudge, planning a holiday dessert, or just looking for a better option than the canned version, this keto sweetened condensed milk does the job. It’s thick, smooth, and nearly identical to the traditional version—without the sugar or unnecessary additives.
Why This Version Works So Well
Traditional sweetened condensed milk relies on simmering milk and sugar together until it reduces into a thick, caramelized syrup. This version takes a similar approach, using heavy cream for richness and allulose for sweetness and consistency.
Allulose is the ideal choice here because it behaves like real sugar when heated. It browns, thickens, and melts into the cream without crystallizing. Paired with a small amount of xanthan gum, it creates that thick, silky texture you’d expect—without any strange aftertaste or grittiness.
The butter adds a touch of depth and smoothness to balance everything out, bringing this low-carb version closer in flavor to a traditional dulce de leche-style condensed milk.

Ways to Use Keto Sweetened Condensed Milk
Once it’s made, you can use it in tons of different ways. It adds richness and sweetness to both baked goods and no-bake treats, and it even works in drink recipes if you’re going for something creamy and decadent.
- Use it in low-carb fudge or truffle recipes
- Drizzle over berries or keto pancakes
- Stir into iced coffee for a creamy boost
- Layer into frozen desserts or cheesecake cups
- Mix into fat bombs or creamy fillings
Storage & Shelf Life
After cooling, transfer the sweetened condensed milk to a glass jar or sealed container. It should be stored in the refrigerator and used within one week. If you find it thickens too much when cold, let it sit at room temperature for a few minutes or warm it gently to restore its pourable texture.
Freezing isn’t recommended for this recipe, as the texture may not hold up well once thawed.

A Simple Addition That Opens Up More Recipes
This is one of those recipes that’s worth learning even if you only need it occasionally. Once you’ve made it once, you’ll see just how easy it is to keep a batch on hand for keto desserts and treats. It’s especially helpful if you like experimenting in the kitchen or need a staple that helps recreate more traditional recipes without all the sugar.
Instead of skipping recipes that call for sweetened condensed milk, you can now adapt them and still get great results. One quick prep session, and you’re set for the week.

Keto Sweetened Condensed Milk
Ingredients
- 1 cup heavy cream
- 1/4 cup allulose
- 2 tablespoons unsalted butter
- 1/4 teaspoon xanthan gum
Instructions
- Pour the heavy cream into a small saucepan and place over medium heat. Let it simmer gently for 10 minutes, stirring occasionally.
- Once the cream begins to reduce and slightly thicken, stir in the allulose and butter. Mix until smooth and fully combined.
- Sprinkle in the xanthan gum and continue cooking, whisking frequently, until the mixture reaches your preferred thickness.
- Remove from heat and let it cool slightly before using. The mixture will continue to thicken as it cools.
Nutrition
Trina Krug is a Holistic Nutritionist, Integrative Health Coach and host of the Carbless Conversations Podcast. With a Master’s Degree in Complementary and Alternative Medicine, her single mission in life is to facilitate self-healing in herself and those around her through awareness, lifestyle shifts and low-carb eating. As a current Doctor of Science student, she continues her studies in functional nutrition.
Would you consider making the image of the finished produce smaller so that it could all be printed on one page? I print out recipes that I love & know I will use frequently but try to keep them to one page so my 3-ring binder doesn’t get overwhelmed 🙂
Ironically, that is what I’m working on this week across my entire recipe site! Stay tuned! Oh, and I LOVE the 3 ring binder – I have one too!
You can shrink it to your desired requirements yourself..
Could this be used to make homemade caramel?
I’m not sure! I’ve never made homemade caramel before!
this is how caramel is made for keto…(caramel slice it is often used for) sometimes people actually brown the butter first in microwave, speeds up the process, but patience is key so it doesnt stick to the bottom of the pot
I’ve actually never made caramel – interesting! I’ll have to look it up!
Did you make the he caramel sauce out of this recipe
How long does this last and can it be froze
I never froze it, but I will give it a try next time just to test it out! If stored in an airtight container, it will last for 3-4 days in the fridge. I’ve kept it for longer, but I like to error on the safe side.
I just tried making this and it’s AAAHHMAZING!!! Thank you!!!