The invention relates to a method for preparing a hot beverage having foamed milk-based topping. A frozen concentrated and aerated milk is combined with a liquid to form the beverage. The invention also relates to a product comprising a flavored beverage base and frozen milk concentrates constituting distinct separate portions of the product. The frozen milk incorporates gas, so that the product provides a flavored beverage having a foamed milk topping upon addition of a liquid.
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