If you've ever made a pumpkin pie, a flan, or my Eggnog Bread Pudding, you may be familiar with evaporated milk. Evaporated milk is simply milk where some of the water has, well, evaporated. Because of the missing water, it has a higher protein content than regular milk. That makes everything creamier without adding extra fat (the way heavy cream would). It's perfect in baked goods when you want to create a custard made from eggs and milk, because it adds extra creaminess compared to regular milk.