Used in the synthesis of pharmaceuticals, fine chemicals, and fragrances, particularly as an intermediate in the production of certain anti-inflammatory agents, antioxidants, and perfume ingredients with mild vanilla-like or soft floral scents. It also serves as a building block in organic synthesis for creating more complex aromatic compounds. Its aldehyde and phenolic functional groups allow for diverse chemical modifications, making it valuable in research and development of new drug candidates. Additionally, due to structural similarity to phenylpropanoid compounds found in plants, it has been explored in the development of natural product analogs and in biochemical studies of plant metabolism pathways.