Used primarily in the fragrance and flavor industry due to its pleasant, fatty, and waxy odor with fruity undertones. It serves as a key intermediate in the synthesis of aroma chemicals and perfumery compounds, especially those mimicking natural fatty esters found in fruits and essential oils. Its stability and solubility in organic solvents make it suitable for use in soaps, detergents, and cosmetic formulations to enhance scent longevity. Also employed in research settings as a model compound for studying ester reactivity and reduction reactions.