Icosyl acetate is primarily used in the fragrance and flavor industry due to its pleasant, long-lasting aroma. It serves as a key ingredient in perfumes, colognes, and scented products, adding a subtle, floral, and slightly fruity note. In cosmetics, it is incorporated into lotions, creams, and soaps to enhance their sensory appeal. Additionally, it is utilized in food flavoring to impart a mild, sweet, and waxy taste to certain products. Its stability and compatibility with other ingredients make it a versatile component in various formulations.