Used as a natural flavoring agent in food and beverage industries due to its sweet, licorice-like taste. Also investigated for its antioxidant properties and potential to inhibit melanin production, making it a candidate in cosmetic formulations to protect skin from oxidative stress, reduce dullness, brighten skin, and combat premature aging from UV and pollution. Shows potential in pharmaceutical research for anti-inflammatory and antimicrobial activities. Found in certain plant extracts used in traditional medicine, supporting its role in herbal supplements.