Used as an intermediate in organic synthesis, particularly in the production of fragrances and flavoring agents due to its ester functionality and reactive acetoxy group. Its structure allows for further chemical modifications, making it valuable in creating lactones and other ester derivatives used in perfumery and cosmetics. Also employed in the synthesis of biodegradable polymers and plasticizers, where it contributes to improved flexibility and stability of materials. Its moderate reactivity and solubility profile make it suitable for use in controlled reaction environments.