Water is a great solvent. It’s neutral and doesn’t provide any strong positive or negative effects. It just helps components to mix better and to transport active components.
Butylene Glycol is a very popular synthetic alcohol. It helps the product to absorb deeper and faster. It is also a solvent for other ingredients. As for the skin benefits, it helps to attract water and helps to make the skin softer.
Unlike many other “Glycols”, it is not harmful and that's why it is used in many products. It was approved by US FDA and US EPA for usage.
Xanthan Gum is used as a thickener or rheology modifier and emulsion stabilizer. It doesn’t provide any notable skin-related effects and is used mostly for formulation purposes. It makes the product’s texture smooth and even. It’s a naturally-derived thickener. Notable fact: it can also be found in the food you eat every day, so it is 100% safe.