Disclosed is an emulsion and method of making the same, wherein the emulsion includes: a fat component； at least one stabilizing agent. The fat component is from a coconut-based source. The emulsion is prepared by a method comprising: mixing the fat component and water to form a mixture； heating the mixture to about 60° C.； adding the stabilizing agent to the mixture； agitating the mixture； heating the mixture to about 60-65° C.； agitating the mixture for approximately 10 min； thermally treating the mixture by heating it to about 86° C., and then to at least about 123° C. for approximately 16 seconds； homogenizing the mixture at 1500 psi and about 72° C.； cooling the mixture.
