Common values are blank, Debug, Release, RelWithDebInfo, and MinSizeRel. The blank value is usually used with multi configuration generators such as Visual Studio. The Debug/Release values are usually used with single configuration generators such as Ninja or Unix Makefiles.
If the value is not blank CMAKE_BUILD_TYPE will be set to the contents of this field at CMake configuration time.
If you desire to use a custom build type you are able to do so. Custom build types follow the pattern '^[a-zA-Z]+$'. Any custom build type requires additional configuration in CMakeLists.txt. Please see the CMake wiki for details on extending the default set of build types.