The Zohar (Parashat Vayakhel) explains that one who reads the Pitum HaKetoret daily is protected from harm, both spiritual and physical, as well as from evil thoughts and harsh Divine decrees. Furthermore, as previously mentioned, Rabbi Haim Palagi (Kaf HaHaim 17:18) says that one who reads it will not have the flow of one’s livelihood interrupted even for a moment.
One part of the Pitum HaKetoret is the recitation of the eleven ingredients which made up the incense that was used in the Bet HaMikdash. Rabbi Reuven Sofer (Yalkut Reuveni, Seder Ben Kehat, Parashat Ki Tisa) writes that these eleven spices are antidotes to the eleven negative forces of Satan.
Rabbi Eliezer Papo (Hesed LaAlafim 132:22) says that since one is already aware of all the personal benefits of the Pitum HaKetoret, one should have in mind to recite in honor of Hashem and not only for one’s own well-being. It should be noted that he explains that one benefits from all the aforementioned rewards only by reciting the Pitum HaKetoret with the proper concentration and intention.
Summary: The Pitum HaKetoret has many spiritual benefits. It should be recited intently.