Evaporated milk adds texture, condensed milk adds sweetness

Evaporated milk is commonly incorporated into recipes that need a boost of creaminess or richness, such as soups, casseroles, and pasta dishes. In addition to enhancing savory meals, it plays a key role in various sweet treats, including tres leches rice pudding. Essentially a concentrated form of milk, evaporated milk also serves as a great creamer for tea or coffee. You can even prepare it at home. Unlike condensed milk, evaporated milk comes in various fat levels, such as low-fat or whole.
As you might expect due to its sugar content, sweetened condensed milk is primarily used to infuse a delightful sweetness into dishes. A splash in your morning coffee can create what one Redditor described as a "transcendent" experience. Many people enjoy keeping a can in the fridge for a quick spoonful of sweetness. Additionally, you can easily make delicious dulce de leche by simmering the condensed milk on the stove. Sweetened condensed milk can enhance a wide range of snacks, from ice cream to Rice Krispie Treats.
Tips on evaporated and condensed milk substitutions

Swapping evaporated milk for condensed milk, or vice versa, can be challenging and is generally not advisable without some modifications. The significant difference in sugar content means they offer distinct flavor profiles and textures. However, if you find yourself in a cooking pinch, there are some alternatives. If you need condensed milk but only have evaporated milk, you can use the latter in place of the former by simply adding extra sugar to achieve the desired sweetness.
Conversely, if you have condensed milk and require evaporated milk, it's often better to opt for light cream or another dairy substitute. To use condensed milk as a replacement, you would need to go through a lengthy process of diluting it and removing the sugar, or adjusting the sugar content in your recipe. In general, attempting to interchange condensed and evaporated milk is usually not worthwhile due to their differing tastes and textures. It's a good idea to keep a can or two of each stored safely in your pantry.
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