Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block for the development of anti-inflammatory agents, nervous system-related drugs, and other bioactive molecules due to the presence of both ester and phenolic functional groups.

The compound is also utilized in the fragrance and cosmetics industry for its mild aromatic properties, contributing to the formulation of perfumes, flavoring agents, lotions, creams, and soaps.

In biochemical research, it is used as a standard or control in studies of the metabolism of phenolic compounds in living organisms.

Its ability to undergo esterification, etherification, and oxidation reactions makes it valuable in laboratory-scale synthesis and industrial applications.