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As a humectant, it pulls water into the skin. But it's a pretty minor moisturizing ingredient compared to other humectants, like glycerin.

Interestingly, it can act as a mild penetration enhancer. One in vitro study on human skin found a 12% concentration upped the absorption of mometasone furoate (a medicinal ingredient used to treat inflammatory skin conditions) up to 7%.

This ingredient is typically used at levels of 0.1-10% depending on the role it's playing.

A patch test study on eczema patients didn't find a significant increase in irritation versus the control group, but the potential for irritation rises at higher concentrations.

On a cellular level, it disrupts the cell membranes of microbes by poking holes that make the cell leak. This shuts down the chemical reactions the microbe needs to make energy so it can no longer survive.

Another perk of this ingredient is that it stays functional across a wide pH range (3-10).

You'll often see it paired with boosters like Ethylhexylglycerin; one study showed that a 1:9 ratio of Ethylhexylglycerin to Phenoxyethanol damages bacterial membranes as effectively as doubling the Phenoxyethanol concentration on its own.

Typical use concentrations range from 0.3-1% depending on the formula, and this ingredient is capped at 1% int the EU.

Safety-wise, the fear mongering does not hold up to the evidence. The EU's Scientific Committee on Consumer Safety and FDA consider it safe as a preservative at up to 1%, including for children of all ages.

Adverse systemic effects only showed up in animal studies at exposures roughly 200x higher than what people get from cosmetics. And despite its very widespread use, this ingredient is a rare sensitizer and allergic reactions are uncommon.

You'll also recognize water as that liquid we all need to stay alive. If you see this, drink a glass of water. Remember to stay hydrated!