Condensed milk is a thick, sweetened milk product made by removing most of the water from regular milk and adding sugar. The process of evaporation concentrates the milk, resulting in a rich, creamy texture and a sweet flavor. This product is often used in baking and dessert recipes, providing moisture, sweetness, and a creamy consistency. It is commonly found in a variety of international cuisines, used in dishes like caramel, ice cream, and even certain beverages.