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Swedish Match reported slightly lower than forecast quarterly operating earnings on Wednesday, and said it expected continued rapid growth of the nicotine pouches market in 2021.

The Swedish company’s biggest businesses are moist snuff -“snus” in Scandinavia - and cigars in the United States, although sales of its tobacco-free nicotine pouches, ZYN, are growing at a rapid pace. Fourth-quarter operating profit at Swedish Match rose to 1.65 billion Swedish crowns ($198.43 million) from 1.10 billion a year earlier, lagging the 1.73 billion average analyst forecast according to data from Refinitiv.