This compound is primarily used as a food additive to enhance the flavor and stability of various processed foods. It acts as a stabilizer and emulsifier, helping to maintain the texture and consistency of products like sauces, dressings, and baked goods. Additionally, it is employed in the production of certain beverages to improve mouthfeel and prevent separation of ingredients. Its application extends to the pharmaceutical industry, where it is used as an excipient in tablet formulations to ensure uniformity and controlled release of active ingredients. In cosmetics, it serves as a thickening agent in creams and lotions, providing a smooth and stable product.