Used in organic synthesis as a chiral building block for pharmaceuticals and fine chemicals. Its ester functionality and chiral center make it valuable in the preparation of bioactive molecules, particularly in asymmetric synthesis. Commonly employed in the development of drugs where stereochemistry plays a critical role in biological activity. Also utilized in the fragrance and flavor industry due to its aromatic characteristics derived from the phenyl group. Serves as an intermediate in the synthesis of natural products and specialty esters.