Used primarily as a flavoring agent in the food industry due to its fruity, creamy, and sometimes nutty aroma. It contributes to the flavor profiles of dairy products, fruit flavors, and baked goods. Also serves as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals, where its keto and ester functional groups allow for diverse chemical transformations. Its reactivity makes it useful in the preparation of heterocyclic compounds and specialty esters.