Used as a fragrance ingredient in cosmetics and perfumes due to its sweet, balsamic odor. Also serves as a fixative to stabilize scents in soaps, detergents, and personal care products. Commonly found in flavoring agents for food and pharmaceuticals because of its vanilla-like taste. Applied in traditional medicine as an expectorant in cough syrups and chest rubs. Functions as a natural resin in varnishes and coatings for its film-forming and protective properties.