Used primarily as a flavoring agent in the food industry due to its fruity and caramel-like aroma. It contributes to the development of artificial flavors, especially in baked goods, confectionery, and fruit-based products. Also serves as an intermediate in organic synthesis for pharmaceuticals and agrochemicals, where its ester and furan functionalities allow for further chemical modifications. Its structural properties make it useful in the preparation of heterocyclic compounds and specialty chemicals.