Used extensively in the pharmaceutical industry to enhance the solubility, stability, and bioavailability of drugs by forming inclusion complexes. It is also employed in the food industry to mask unpleasant tastes and odors, as well as to improve the shelf life of products. In the cosmetics sector, it helps in the controlled release of active ingredients and reduces irritation caused by certain compounds. Additionally, it finds applications in environmental science for the encapsulation and removal of pollutants from water. Its ability to form complexes with various molecules makes it valuable in analytical chemistry for separation and purification processes.