Used as an intermediate in the synthesis of fragrance compounds and flavoring agents, particularly in creating vanilla-like aroma chemicals. It serves as a building block in the production of certain antioxidants and UV stabilizers due to its phenolic structure. Its aldehyde and hydroxyl functional groups allow for derivatization into more complex molecules used in perfumery and specialty chemicals. Also explored in agrochemical formulations for its potential role in enhancing stability of active ingredients.