This is what's written on the bag, if I'm not mistaken (changed from traditional vertical to horizontal)...



From left to right, repeating what some others have said, the characters are (pronunciations are in orange):

1) kanji - ten - "revolve, turn around, change"
2/3) katakana - pan - "bread"
4) kanji - nyuu - "enter, insert" however, I agree with Trs24 that it's probably using the kun reading "iri" meaning "contained within"
5) kanji - fukuro - "bag or sack"

Now my Japanese isn't the best, but I agree that it's obviously a bread bag. But the "ten" at the beginning kinda throws me. Maybe referring to keeping fresh bread in your bread bag?

I'll ask my sensei on Monday....

Hope this helps.