Only France in 2006 have gone on to win the Six Nations after losing their opening encounter.
But Scarlets hooker Owens is confident Wales can bounce-back against Les Bleus and build from there.
"As some of the boys said after the Irish game, we can't win the Grand Slam but we can still retain the title - so there's still a lot to play for," said the 26-year-old.
"If we get a result this weekend in Paris we are back in the Championship race.
"It was a terrific opening weekend to the Six Nations, no country is out of it and no team is running away with it.
"We have to train hard and smart this week and transfer that to the pitch on Saturday night. If we do that we will, hopefully, get the result we want in Paris."
Like Wales, France also lost on the opening weekend of action - a shock defeat to Italy in Rome.
Rob Howley's men expect a backlash from France but Owens insists Les Bleus hold no fear.
"We know what a challenge it's going to be in France because they're a very good side who had a strong autumn campaign," added Owens.
"Perhaps France did have a slight off-day in certain aspects but Italy stopped them playing.
"There are no easy games in the Championship any more, which can only be good for the tournament.
"France have a great pack - there's no hiding away from it.
"They went toe-to-toe with Italy in a good battle to watch but we can get dominance.
"We must have confidence in our ability, we got into the Irish forwards at times and we can compete.
"We definitely don't fear France and it's going to be a battle, one we are relishing.
"If I get the opportunity to start against France it would be brilliant.
"Playing for your country is what you always want to do, and if I'm lucky enough to be picked, I'll give it my all."
You can follow all of the action for France v Wales at http://www.wru.co.uk/live