Postgres Database Backup Size

Hi,

Here , we have first tried with .BAK backups. For, 43GB database-> the
backup size was ~86GB.

Then, I configured backup with .sql file. Here it was ~70GB for the same
database size.

Next, now our database size keeps increasing. As well as backup size is
also increasing. Now, backup size is more than 100GB for 50GB database
size. Due to some business requirement , we need to restore each backup
daily.

Here, I'm taking backup via below sample statement:

pg_dump -U postgres -d welcome -f welcome_${DATE}.sql

I had also tried with compressed backups via -Fc. But, since it is
compressed, in case of restoration -> first it decompresses the backup and
restore it. Which again takes a lot of time.

Any way to reduce backup size of postgres backups or it's default behavior
of postgres to take backups which are double in size?

Thanks,
Shiwangini