Used primarily as an emulsifier and stabilizer in food products, helping to maintain consistency and prevent separation in items like margarine, baked goods, and processed foods. Also functions as a texturizing agent, contributing to the smooth mouthfeel in confectionery and dairy products. In cosmetics, it acts as an emollient and thickening agent, improving the spreadability and moisturizing properties of creams, lotions, and ointments. Additionally, it serves as a lubricant in some pharmaceutical formulations and is used in the production of soaps and detergents through saponification reactions.