To a medium saucepan, add the coconut milk and sugar and give it a stir.
Bring the mixture to a low boil, then turn the heat down to medium-low and simmer for 45-50 minutes. Give the mixture a whisk every 3-4 minutes or so, and scrape down the sides with a spatula.
Once the liquid has reduced by just over half, remove the saucepan from the heat and let it cool down to room temperature.
Transfer the vegan condensed milk to a mason jar for storage and chill it. Once it has thickened, use it for everything you would normally add condensed milk to. Happy eating!
Notes
Room temperature ingredients: Make sure the coconut milk is at room temperature before adding it to the saucepan. This will ensure the sugar and milk properly combine.
Be patient: The mixture needs quite a bit of time to reduce and thicken. It’s not an exact measurement, but you’re going for a 60% reduction in water content.
Stir frequently: To prevent the mixture from sticking and gelling on the sides of your saucepan, stir it every few minutes.
Keep the heat low: You don’t want to burn the milk or sugar or your vegan condensed milk will have an off-putting flavor. Simmer it low and slow.
Nutritional information is a rough estimate and should not be taken as health advice.