The forecast for higher education expenditure on R&D in agricultural and veterinary sciences in the UK from 2024 to 2028 suggests a steady increase. In 2024, expenditure is expected to be £145.8 million, growing each year to reach £152.0 million in 2028. Comparing to 2023, where the expenditure stood at a certain point prior to this gradual increase, the year-on-year growth rate is consistently around 1% to 1.5%. The compound annual growth rate (CAGR) from 2024 to 2028 reflects an average annual increase of approximately 1.05%.
Future trends to watch include potential shifts in government funding priorities, innovations in agricultural technology that could require increased R&D, and the influence of sustainability goals, which may drive further investment. These factors could accelerate expenditure growth beyond current forecasts.
