Used primarily in the pharmaceutical industry, this compound serves as a chiral resolving agent to separate enantiomers in drug development. Its unique structure allows it to form inclusion complexes with various molecules, enhancing the solubility and stability of poorly soluble drugs. It is also employed in analytical chemistry as a stationary phase in chromatography for enantiomeric separation. Additionally, it finds applications in the food industry to mask bitter tastes and improve the delivery of certain nutrients. In research, it is utilized to study host-guest interactions and molecular recognition processes.