Evaporated Milk is dehydrated fresh milk with 60% of the water removed. This type of milk is considered shelf stable and can be stored for months or even years. It can be thinned with water and can be used to add flavor and texture to dishes and baked goods. Evaporated milk is skimmed cow's milk powder, butter fat, Emulsifiers (E471 from a vegetable source, E407, E322, E339. Sterilized by retort process.