Used extensively in biochemical research to study enzyme activity, particularly lipase enzymes, which are crucial for breaking down fats. It serves as a key component in assays to measure lipase concentration and activity in various biological samples, aiding in the diagnosis of pancreatic disorders. Additionally, it is employed in the development of industrial applications, such as in the production of biodiesel, where lipase enzymes catalyze the transesterification of fats and oils. It also finds use in the food industry to enhance flavor development in dairy products by facilitating the breakdown of milk fats.