Used as an intermediate in organic synthesis, particularly in the preparation of flavonoids and other polyphenolic compounds. Serves as a building block in pharmaceuticals and natural product synthesis due to its multiple hydroxyl groups and ester functionality. Also applied in the development of UV-absorbing materials and antioxidants in specialty polymers. Its structure supports chelation of metal ions, making it useful in formulations requiring metal deactivation. Additionally, it is employed in the cosmetics and skincare industry as an antioxidant to protect against free radicals, environmental pollutants, and UV radiation, with properties that inhibit pigmentation for even skin tone and fading dark spots. Its good water solubility and stability make it suitable for serums, creams, and lotions.