Over time, carnation milk has found its way into many of America's pantries for use in family-favorite recipes. Today, carnation milk is virtually the same high-quality product it has been since its introduction. Carnation sweetened condensed milk is a mixture of whole milk and sugar which heated until about 60 percent of the water evaporates. It is ideal for baked goods and desserts and it doesn't curdle when used with acidic products like lemon or lime.