This compound is widely used in the pharmaceutical industry as a solubilizing agent for poorly water-soluble drugs, enhancing their bioavailability and stability. It is also employed in the formulation of drug delivery systems, where it acts as a carrier to improve the absorption and controlled release of active ingredients. In the food industry, it is utilized to encapsulate flavors, fragrances, and other sensitive compounds, protecting them from degradation and extending their shelf life. Additionally, it finds applications in analytical chemistry as a chiral selector in chromatography for the separation of enantiomers. Its ability to form inclusion complexes with various molecules makes it valuable in environmental science for the removal of pollutants from water and soil. In cosmetics, it is used to stabilize and solubilize active ingredients in skincare and personal care products.