Used as a fragrance ingredient in cosmetics and personal care products due to its mild, fatty, and waxy odor. Also serves as a flavoring agent in food applications for its ester-like, fruity characteristics. Acts as a solvent or carrier in formulations requiring low volatility and good solubility. Investigated as a biodiesel component because of its favorable combustion properties and renewable origin when derived from plant-based sources. Employed in research as a model compound for studying lipid metabolism and enzymatic reactions.