Used primarily as an intermediate in organic synthesis, especially in the production of pharmaceuticals and fine chemicals. It serves as a protected form of 4-hydroxyacetophenone in multi-step reactions where selective functionalization is required. Commonly employed in the development of analgesics and anti-inflammatory agents due to its structural similarity to active moieties in such drugs. Also utilized in fragrance formulations for its mild, sweet, and fruity aroma, making it suitable for perfumes and scented consumer products. Its acetyl groups allow for easy deprotection or further modification under mild conditions, enhancing its utility in synthetic pathways.