Let's put this big number (18% increased risk) into perspective. With processed meat out of the equation, a healthy 40 year old white male (using my approximate demographic) has less than a 1.5% chance of developing colon cancer by the age of 70. Using the high end (1.5% risk), and increasing my odds by 18%, this means my odds went from 1.5% to 1.77% of getting colon cancer by age 70.
Not quite the shocking increase in risk that draws clicks on articles...so let's just say 18% to make people get the sky is falling effect.