Used in the synthesis of pharmaceutical intermediates, particularly in the development of anti-inflammatory and antioxidant compounds. It serves as a building block in organic reactions due to the presence of both ester and phenolic functional groups, enabling derivatization for drug research. Also employed in fragrance and flavor industries owing to its aromatic character and ester-based volatility. Its structure supports use in the preparation of UV-absorbing agents and stabilizers in cosmetic formulations.