Milk chocolate contains less cocoa solids than dark chocolate but, like white chocolate, contains milk solids. It is the most consumed type of chocolate and it is used in a wide diversity of bars, tablets and other confectionery products. The first use of the term "milk chocolate" was for a beverage brought to London from Jamaica in 1687, but it was not until the Swiss inventor Daniel Peter successfully combined cocoa and condensed milk in 1875 that the milk chocolate bar was invented. While taste (akin to chocolate milk) and texture have been key to its success, milk chocolate has also historically been promoted as a healthy food, particularly for children. The word chocolate arrived in the English language about 1600, but initially described dark chocolate. Between them, they are responsible for over half of the chocolate sold worldwide. The global spread of milk chocolate continued into the next century, along with increasing consolidation in the market. Recent evidence has shown that it may provide antioxidant health benefits.

Major milk chocolate producers include Ferrero, Hershey, Mondelez, Mars and Nestlé. In 2018, the market for milk chocolate was worth $63.2 billion. Although four-fifths of all milk chocolate is sold in the United States and Europe, increasingly large amounts are consumed in China and Latin America.

Chocolate was originally sold and consumed as a beverage in pre-Columbian times, and upon its introduction to Western Europe. Milk chocolate became mainstream at the beginning of the twentieth century following the launch of Milka, Cadbury Dairy Milk and the Hershey bar, inducing a dramatic increase in world cocoa consumption. At the same time, milk chocolate was combined with other ingredients, like nougat, to form a wide variety of bars, including Toblerone in 1908, Goo Goo Cluster in 1912 and Kit Kat in 1935. Switzerland quickly developed as the centre of milk chocolate production, particularly after the development of the conche by Rodolphe Lindt, and was increasingly exporting to an international market. A more recent development has been the rise of Fair Trade and UTZ Certified chocolate aiming to provide ethical assurances for customers. Milk chocolate

Milk chocolate is a form of solid chocolate containing cocoa, sugar and milk.