Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block for esters and other derivatives due to its hydroxyl and ester functional groups. Commonly employed in the preparation of beta-alanine derivatives and biodegradable polymers. Also utilized in flavor and fragrance formulations for its mild, fruity odor. Its reactivity allows for easy modification in multi-step synthesis routes, making it valuable in research and industrial applications.