Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its structure allows for functional group transformations, making it valuable in building complex molecules. Commonly employed in the synthesis of gamma-lactone derivatives, which are important in flavor and fragrance industries due to their fruity, creamy sensory profiles. Also utilized in the development of bioactive compounds, including potential drug candidates, where the lactone ring serves as a key pharmacophore. Its reactivity enables efficient derivatization for use in cyclization reactions and heterocyclic compound formation.