PET milk is a brand of evaporated milk and is comparable to other brands of evaporated milk. Produced in regular and low-fat versions, evaporated milk is created by removing around 60 percent of the water from the milk and, therefore, concentrating its flavors and fats.
Evaporated milk has a slightly caramelized flavor and is commonly used to make custards and other dishes where a creamy texture is desirable. Regular evaporated milk from PET contains 6.5 percent milk fat. Evaporated milk and condensed milk are two canned milk products that are sold near each other in the grocery store but cannot be substituted for one another because condensed milk is heavily sweetened.