Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of prostaglandin analogs and other bioactive molecules. Its spirocyclic structure provides conformational rigidity, making it valuable in medicinal chemistry for enhancing metabolic stability and target selectivity. Also employed in the preparation of fragrances and flavoring agents due to its ability to act as a lactone precursor with a mild, pleasant odor profile. Additionally, it serves as a building block in organic synthesis for constructing complex cyclic systems in natural product synthesis.