Formic acid phenethyl ester is primarily used in the flavor and fragrance industry due to its pleasant, floral, and slightly fruity aroma. It serves as a key ingredient in the formulation of perfumes, colognes, and scented products, adding a delicate and appealing note. Additionally, it is employed in the food industry as a flavoring agent, enhancing the taste of various products such as candies, baked goods, and beverages. Its ability to mimic natural floral scents makes it a valuable component in creating synthetic fragrances that are cost-effective and consistent in quality.