(S)-2-Acetoxy-3-phenylpropanoic acid is primarily utilized in the synthesis of various pharmaceutical compounds. It serves as a key intermediate in the production of chiral drugs, particularly those targeting cardiovascular and central nervous system disorders. Its chiral nature allows for the creation of enantiomerically pure substances, which are crucial for enhancing drug efficacy and reducing side effects. Additionally, this compound is employed in organic synthesis for the development of fine chemicals and specialty materials, where its structural properties contribute to the formation of complex molecules with specific biological activities.