Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block for the development of active pharmaceutical ingredients due to the presence of both hydroxyl and ketone functional groups, which allow for diverse chemical modifications. Commonly employed in the synthesis of analgesics and anti-inflammatory agents. Also utilized in fragrance and flavor industries owing to its phenolic structure, contributing to sweet, floral, or fruity notes in perfumery applications.