Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs). It serves as a chiral building block for the preparation of 2-arylpropionic acid derivatives, which exhibit anti-inflammatory, analgesic, and antipyretic activities. The compound's structure allows for selective enzymatic or chemical transformations, making it valuable in asymmetric synthesis. It is also employed in the development of agrochemicals and fragrances due to its stable ester functionality and aromatic substitution pattern.