Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals due to the presence of both carboxylic acid and hydroxyl functional groups, enabling esterification and other derivatization reactions. Employed in the formulation of skin care products, leveraging its emollient properties and ability to enhance skin penetration of active ingredients. Serves as a building block in the production of biodegradable polymers and surfactants, benefiting from its amphiphilic nature. Also found in flavor and fragrance compositions, where it contributes to fatty, creamy notes in perfumes and food additives.