Used extensively in the pharmaceutical industry to enhance the solubility and stability of poorly water-soluble drugs, making them more effective and easier to administer. It is also employed in drug delivery systems to improve bioavailability and control the release of active ingredients. In the food industry, it serves as a stabilizer and solubilizer for flavors, vitamins, and other additives, ensuring consistent quality and performance. Additionally, it finds applications in cosmetics, where it helps to encapsulate active ingredients, improving their delivery and efficacy in skincare products. Its ability to form inclusion complexes with various compounds makes it valuable in environmental applications for the removal of pollutants and in analytical chemistry for separation and detection processes.