The singer is currently working on his fourth studio LP and has teamed up with producer Starsmith, who has previously collaborated with Cheryl Cole and Ellie Goulding.
"Mark's excited about his new sound, it has a modern edge. People might not even think it's him," a source told The Sun.
"His label are keen to get the stuff out - especially as Gary Barlow being on X Factor will shift the focus back on Take That."
Meanwhile, Owen is said to have been writing fresh material with new talent in the recording studio after setting up his own publishing company.
> Take That's Mark Owen to become father for third time
Watch the music video for Mark Owen's 'Four Minute Warning' below: