Used primarily in the synthesis of biodegradable polymers and specialty esters, this compound serves as a monomer in producing polyhydroxyalkanoates (PHAs), which are eco-friendly alternatives to conventional plastics. Its hydroxyl and carboxylic acid functional groups enable ring-opening polymerization, leading to polymers with tunable thermal and mechanical properties. It is also employed in the fragrance and flavor industry due to its ability to form lactones with creamy, coconut-like notes. Additionally, derivatives of this acid find use in pharmaceuticals as intermediates in the production of anti-inflammatory agents and prodrugs, benefiting from improved metabolic stability and bioavailability. In agrochemical formulations, it acts as a building block for biodegradable surfactants and emulsifiers, enhancing environmental compatibility.