This chemical is widely used in the formulation of liposomes and other lipid-based drug delivery systems due to its ability to mimic natural cell membranes. It serves as a key component in creating stable and biocompatible vesicles for targeted drug delivery, particularly in cancer therapy and vaccine development. Additionally, it is employed in research to study membrane dynamics, lipid-protein interactions, and cellular signaling pathways. Its application extends to cosmetics, where it is used in skincare products to enhance moisture retention and improve skin barrier function. In the food industry, it acts as an emulsifier, aiding in the stabilization of food products and improving texture.