This chemical is widely used in the pharmaceutical industry to enhance the solubility and stability of poorly water-soluble drugs. It acts as a drug delivery agent by forming inclusion complexes with active pharmaceutical ingredients, improving their bioavailability and absorption. In the food industry, it is utilized to encapsulate flavors, fragrances, and bioactive compounds, protecting them from degradation and controlling their release. Additionally, it finds applications in cosmetics, where it helps stabilize active ingredients in formulations and improves their efficacy. Its ability to form complexes with various molecules also makes it useful in environmental applications, such as removing organic pollutants from water.