If the birth rate is declining in an economy where a larger portion of the population is gaining aj increse disposable income, then A2 IF, being a premium product, would be accessible to a larger segment of the population.
Studies have also shown that when the number of children per household declines in a growing economy, then the focus shifts from increasing the quantity of children to Increasing the quality of a childs upbringing. I can imagine a scenario where a declining birth rate (in combination with increasing incomes) might actually benefit a2m. It is a premium product, parents will be wanting the best for their one and only child. You just need to see the way some pets are pampered in regions that have experienced increases in disposable income.
Media Updates, page-8550
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