Used primarily in the production of biodegradable plastics and resins due to its ability to form polymers with desirable mechanical properties. It serves as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of antiviral and anticancer drugs. In the food industry, it acts as a stabilizer and thickening agent in processed foods. Additionally, it is employed in research as a model compound for studying carbohydrate chemistry and enzyme mechanisms. Its derivatives are also explored for potential applications in biofuel production.