The European Space Agency (ESA) Snow Climate Change Initiative (CCI+) provides long-term, global time series of daily snow cover fraction and snow water equivalent (SWE). The Snow CCI+ SWE Version 1 (CCIv1) product is built on the GlobSnow algorithm, which combines passive microwave (PMW) data with in situ snow depth (SD) measurements to estimate SWE. While CCIv1 remains algorithmically similar to the most recent GlobSnow product (GlobSnow Version 3), Snow CCI+ SWE Version 2 (CCIv2) incorporates two notable differences. CCIv2 uses updated PMW data from the NASA MEaSUREs Calibrated Passive Microwave Daily EASE-Grid 2.0 Earth Science Data Record and is generated in EASE-Grid 2.0 with 12.5 km grid spacing. It also adjusts SWE retrievals in post-processing by incorporating spatially and temporally varying snow density information. Due to the phased product development framework CCI+ employs, proposed changes between CCIv1 and CCIv2 were implemented in a series of step-wise developmental datasets. Using these developmental datasets, we analyze how changes to input PMW and SD data and the snow density parameterization affect the resulting SWE product. Using in situ snow courses as reference data, we demonstrate that the correlation and RMSE of the CCIv2 developmental product improved 18% (0.10) and 12% (5 mm), respectively, relative to CCIv1. The timing of peak snow mass is shifted two weeks later and a temporal discontinuity in the monthly northern hemisphere snow mass time series associated with the shift from the Special Sensor Microwave/Imager (SSM/I) to the Special Sensor Microwave Imager/Sounder (SSMIS) in 2009 is also removed.