Used in the fragrance industry as a flavor and aroma compound due to its sweet, fruity, and balsamic notes. It serves as a key ingredient in creating artificial flavors for food products and is also utilized in perfumery to enhance floral and fruity accords. Its stability and volatility profile make it suitable for use in both aqueous and oily systems. Additionally, it acts as an intermediate in organic synthesis for producing more complex esters and aroma chemicals.