Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of anticoagulant drugs and anti-inflammatory agents. It also serves as a building block in the development of UV-absorbing compounds for use in sunscreens and cosmetic formulations due to its ability to absorb ultraviolet light. Additionally, it finds application in the preparation of natural flavorings and fragrances, leveraging its structural similarity to compounds found in essential oils. Its antioxidant properties are explored in research for potential use in functional foods and nutraceuticals.