This easy vegan sweetened condensed milk only requires two ingredients and can be prepared in less than 30 minutes! It's dairy-free, plant-based, soy-free, gluten-free, and delicious in any drink or recipe that calls for condensed milk.
In a wide-based skillet or saucepan (12 inches), add the coconut milk and sugar and turn on heat to medium-high. Stir continuously to dissolve the sugar and bring mixture to a gentle boil.
Turn down heat immediately to low (I used the lowest setting on my stove) and gently simmer for 20 minutes. Stir a couple times while it simmers to redistribute any lumps.
The mixture will reduce in volume by about half and is ready when it is slightly thick and can coat the back of a spatula. It will become an off-white color as the sugar caramelizes and change to slightly translucent.
Remove from heat and stir in the vanilla for a sweeter condensed milk if desired. Allow to cool fully before transferring to a clean, airtight container.
The mixture will be slightly thickened once it’s done cooking and will thicken more as it cools. After refrigeration it will be even thicker but will return back to a normal, drizzle-y consistency once warmed to room temperature.Cooking time - If you use a smaller skillet or saucepan, or double the recipe, you will need to simmer longer, 30+ minutes for the mixture to properly reduce and thicken.Storage - Store in the refrigerator for up to a week. Vegan condensed milk can also be frozen. Store in a freezer-safe container for up to three months. Thaw before using.Dairy-free, nut-free, and gluten-free