Widely used in the fragrance and flavor industry, it imparts a sweet, floral, and slightly spicy aroma, making it a popular choice for perfumes, cosmetics, and scented products. It is also employed in the formulation of food flavorings to enhance the taste of various products, particularly those requiring a warm, balsamic note. Additionally, it serves as an intermediate in organic synthesis, contributing to the production of more complex chemical compounds. Its versatility and pleasant scent profile make it valuable in both consumer goods and industrial applications.