Condensed milk, also known as sweetened condensed milk, is cow's milk from which water has been removed and to which sugar has been added, yielding a very thick, sweet product that can last for years without refrigeration if unopened. The two terms, condensed milk and sweetened condensed milk, have become synonymous; though there have been unsweetened condensed milk products, today these are uncommon. Condensed milk is used in numerous dessert dishes in many countries, especially in Russia and the former Soviet Union where it is known as "сгущёнка" (sguschyonka, literally "[that which is] condensed").

A related product is evaporated milk, which has undergone a more complex process and which is not sweetened. According to the writings of Marco Polo, the Tartars were able to condense milk. Ten pounds of milk paste was carried by each man who would mix the product with water.

However, this probably refers to the soft Tartar curd which can be made into a drink ("airan") by diluting it, and therefore to fermented, not fresh milk concentrate.

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