"Processed meat was classified as carcinogenic to humans (Group 1), based on sufficient evidence in humans that the consumption of processed meat causes colorectal cancer." http://www.iarc.fr/en/media-centre/pr/2015/pdfs/pr240_E.pdf and here you find tobacco: https://en.wikipedia.org/wiki/List_of_IARC_Group_1_carcinoge... So processed meat IS ranking next to tobacco according to IARC.
> The classification indicates the weight of the evidence as to whether an agent is capable of causing cancer (technically called “hazard”), but it does not measure the likelihood that cancer will occur (technically called “risk”) as a result of exposure to the agent.
(Emphasis theirs)