Used in the fragrance and flavor industry due to its pleasant, sweet, floral, and vanilla-like aroma. It serves as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly those requiring a vanillyl or phenolic ester moiety. Its structural similarity to natural phenolic compounds, such as those in vanilla, makes it valuable in developing antioxidants and bioactive molecules. Also employed in perfumery for enhancing woody and balsamic notes in scent formulations.