A typical 2 tbsp serving of sweetened condensed milk contains 3 grams of protein (7.91 g per 100 g), which makes it a moderate source of protein. That covers roughly 6% of the 50 g reference Daily Value, so it adds toward your protein total for the day.
Only about 10% of the calories in sweetened condensed milk come from protein, so it is more of an energy food than a protein food. It is worth eating for other reasons; the protein it adds to a day is incidental.
Among the 81 dairy foods in the database, sweetened condensed milk ranks 73rd by protein per serving, and 593rd out of all 796 foods on the site. Set against liquid whey, another dairy food entry in the database, a serving carries about 0.9 g more protein (liquid whey has 2.1 g per 1 cup).
It is a complete protein - it supplies all nine essential amino acids in adequate amounts, so it can carry a meal's protein on its own. The serving above is measured by volume at 38.2 g. The per-100 g figure lets you compare it directly against any other food here, whatever its serving.
Heavily sweetened, so it is used as an ingredient rather than a drink.
Source: USDA FoodData Central #171275 - "Milk, canned, condensed, sweetened" (SR Legacy, published 4/1/2019). Values are the published reference figures for that record, not lab measurements for a specific brand or batch.
Quick answers
Sweetened condensed milk protein FAQ
How much protein is in sweetened condensed milk per 100 g?
Sweetened condensed milk has 7.91 g of protein per 100 g. A typical 2 tbsp serving (38.2 g) provides 3 g.
Is sweetened condensed milk a complete protein?
Yes. Sweetened condensed milk is a complete protein - it supplies all nine essential amino acids in adequate amounts, so it can carry a meal's protein on its own.
How much of the Daily Value does a serving of sweetened condensed milk cover?
A 2 tbsp serving of sweetened condensed milk contains 3 g of protein, about 6% of the 50 g reference Daily Value.
Is sweetened condensed milk a good source of protein?
Sweetened condensed milk is a moderate source of protein, and about 10% of its calories come from protein, which makes it more of an energy food than a protein food. Set against liquid whey, another dairy food entry in the database, a serving carries about 0.9 g more protein (liquid whey has 2.1 g per 1 cup).