Used primarily as an intermediate in organic synthesis, especially in the pharmaceutical and fragrance industries. Its hydroxy and ester functional groups make it valuable for constructing more complex molecules. Commonly employed in the development of flavoring agents due to its aromatic characteristics, it contributes to fruity and floral notes in perfumery. Also utilized in the preparation of UV-absorbing compounds for use in sunscreens and cosmetic formulations, where it helps stabilize products against photodegradation. Its structural features allow for derivatization into bioactive compounds, including anti-inflammatory and antimicrobial agents currently under research.