Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its hydroxyl and ester functional groups make it valuable for constructing complex molecules through selective reactions. Commonly employed in the synthesis of beta-hydroxy esters, which serve as building blocks for antibiotics, anti-inflammatory agents, and other bioactive compounds. Also utilized in fragrance and flavor synthesis due to its ability to form lactones and other odor-active molecules. Its stability and reactivity profile allow for use in multi-step synthetic routes under mild conditions.