It is widely used in the food industry as a structuring agent in products like margarine, spreads, and confectionery to improve texture and stability. In cosmetics, it serves as an emollient and moisturizer, enhancing skin hydration and softness in creams and lotions. Additionally, it is utilized in pharmaceutical formulations as a carrier for lipid-based drug delivery systems, improving the bioavailability of poorly soluble drugs. Its role in research includes studying lipid metabolism and membrane dynamics in biological systems.