1. Antiseptic – Prevents growth of unwanted microorganisms.
2. Antistatic Agent – Reduces or eliminates the build up of static electricity.
3. Emulsifier – Allows water and oils to remain mixed together to form an emulsion, such as in mayonnaise, ice cream, and homogenized milk
4. Gelling Agent / Thickener – Increases the viscosity by thickening the liquid to give it more texture
5. Surfactant – Reduces the surface tension to allow mixtures to be formed evenly. Emulsifier is a specific type of surfactant which allows two liquids to mix together evenly
6. Viscosity Controlling Agent – Maintains or alters the thickness of a liquid, mostly used in cosmetics
Cocamidopropyl betaine (CAPB) is a mixture of closely related organic compounds derived from coconut oil and dimethylaminopropylamine.
Cocamidopropyl betaine is used as a foam booster in shampoos. It is a medium strength surfactant also used in bath products like hand soaps. It is also used in cosmetics as an emulsifying agent and thickener, and to reduce irritation purely ionic surfactants would cause. It also serves as an antistatic agent in hair conditioners, which most often does not irritate skin or mucous membranes. However, some studies indicate it is an allergen. It also has antiseptic properties, making it suitable for personal sanitary products. It is compatible with other cationic, anionic, and nonionic surfactants. 
Recent Findings :
Scientific References :
1. PubChem: https://pubchem.ncbi.nlm.nih.gov/compound/20280