This compound is primarily utilized in organic synthesis as an intermediate for the development of more complex chemical structures. Its functional groups, including the benzyloxy and carboxylic acid moieties, make it valuable for constructing heterocyclic compounds, particularly in pharmaceutical research. It is often employed in the synthesis of potential drug candidates, especially those targeting enzyme inhibition or receptor modulation. Additionally, its pyran ring structure is of interest in the design of bioactive molecules, including antimicrobial and anti-inflammatory agents. Researchers also explore its use in material science for creating novel polymers or coatings with specific properties.