What a toner is doing at this point in a routine
Cleansing, particularly with a foaming cleanser, temporarily raises the skin's surface pH. Skin functions best at around 5, where its barrier enzymes work properly and where the microbiome is stable. It recovers on its own, but a toner formulated at the right pH shortens that recovery.
Witch hazel water
Note this is witch hazel water rather than extract, which is the distillate. Worth knowing what that means: tannins are not volatile, so they largely do not survive distillation. Tannins are what produce witch hazel's astringent, tightening effect.
So a witch hazel water contributes the aromatic and calming components with considerably less astringency than an extract would. In a product aimed at sensitised skin, that is a sensible choice rather than a shortcut.
Note also that this is not the alcohol-preserved witch hazel sold in pharmacies. There is no alcohol in this formula.
The humectant blend
Four ingredients holding water by different routes. Sodium hyaluronate binds water along its polysaccharide chain. Sodium PCA is a component of the skin's own natural moisturising factor. Panthenol, provitamin B5, converts to pantothenic acid in the skin and is well studied for hydration and barrier support. Allantoin is a soothing agent with keratolytic properties at higher concentrations.
Glycolic acid, at a low level
Fourth in the list, though total concentration is not disclosed. Glycolic acid here is doing two jobs: contributing to the acidic pH the product is designed to restore, and providing very mild surface exfoliation.
This is not an exfoliating toner in the sense of an acid treatment. It is a pH-appropriate toner that contains a small amount of acid.
Menthoxypropanediol
A menthol derivative producing a cooling sensation without menthol's sharpness or volatility. It contributes the refreshing feel rather than any effect on skin.
Fragrance, which needs stating plainly
This product is fragranced and declares five recognised contact allergens: alpha-isomethyl ionone, benzyl salicylate, hydroxycitronellal, eugenol and citronellol.
Fragrance is among the most common causes of contact dermatitis. A product positioned for sensitised skin carrying five declared allergens is a genuine consideration, and if you have ever reacted to a scented product this is relevant to you.
A note on formulation changes
Older ingredient lists for this product, still published by many retailers, show hydroxyisohexyl 3-cyclohexene carboxaldehyde, commonly called Lyral. That fragrance ingredient has been prohibited in cosmetics in the EU since 2021 on sensitisation grounds.
The current formulation has replaced it. If you are comparing ingredient lists online, check the date, because a lot of what is published is out of date.