When an entire family of products is classified as a Group 1 carcinogen, meaning that it is a cause of cancer, maybe you might want to consider avoiding it. Unfortunately, bacon, sausages, deli meats, ham, hot dogs, salami, meat sticks and such are among the most popular foods out there. Processed meats contain an additive called nitrite to preserve color and flavor. But nitrite in processed meat can turn into harmful N-nitroso compounds which play a major role in the formation of bowel cancer.
Fortunately, there are good vegan alternatives. Of course, most of these are also processed (it's hard to make an unprocessed version of a processed product), but they aren't carcinogenic, they don't contain N-nitroso compounds and they are all cholesterol-free.