Water is essential for every life on the earth and also for all kinds of socioeconomic development activities. Freshwater scarcity is a major issue in the developing world in terms of human consumption and irrigation. Water is not evenly distributed throughout the world so that some regions (particularly in south Asian countries, West Asia, North Africa or sub-Saharan Africa) are going through water scarcity problems. A major reason for water scarcity is population growth and changing climatic variability. Apart from some regions of Europe and Northern America, water is insufficient due to poor management and poor policy. However, climate change has an adverse impact on the water availability and this will increase water insecurity in the future. So, from now we have to develop efficient adaptive capacity such as storage development to conserve water. Therefore, the purpose of this study is to look into the global water demand and supply scenario exploring regional conflict and water scarcity; and to outline the local level best water management options that are beneficial for conservation and efficient use of water for better life.