Used in biochemical research as a substrate for studying enzyme activity, particularly in metabolic pathways involving ketone bodies. It serves as a precursor in the synthesis of various organic compounds, including pharmaceuticals and fine chemicals. In industrial applications, it is employed in the production of flavors and fragrances due to its role in generating specific aroma compounds. Additionally, it is utilized in the development of diagnostic reagents for medical testing, helping to identify metabolic disorders. Its stability and solubility make it suitable for use in aqueous solutions for laboratory experiments and analytical procedures.