In the manga,
Midoriya is already able to use 20% of One for All. And after he got his new quirk, Bakugo offered himself to corner him and push him to see if he could manifest his new quirk again. It seems that Bakugo while still being a teenager is already able to keep up with Midoriya's One for All at 20%. One would assume that while he continues to grow and become an adult, he will increase his power even more.
Can Bakugo keep up with Midoriya's One for All?
Can Bakugo keep up with the sheer output of power from Midoriya's One-for-All as he gradually scales it towards a possible 100% ? Less likely.
However he doesn't have to. Bakugo is portrayed as a naturally talented prodigy with great reflexes and self-confidence, while Midoriya is more inclined towards being a strategist with his detailed hero assessment notes.
While sparring Bakugo is able to get the upper hand by breaking the regular pattern, which throws Midoriya off-guard shifting the balance of the fight and ends up besting him. While a 100% One-for-All speed and strength wielding Deku (a potential All Might scenario) might be too much to deal with, it needs to be considered that Bakugo could still grow in ways yet to be shown in the manga to match his rival.
Obligatory warning: Spoiler from the manga!
While still a theory, in recent arcs we saw that Midoriya is able to use at least one quirk of a past One for All user. To this date, we don't know what is the truth behind this abnormal power since even All Might isn't aware of it.
One can speculate that if Midoriya can use all the other quirks of the past users on top of superhuman power, Bakugo doesn't stand a chance.
Another nitpicking but we don't know how the superhuman power of One for All scales. Is it linear or parabolic? Depending on this answer, we don't even need to think other past quirks.
