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The Water Network research team has consolidated an answer to the above question.  
Further input from members is welcome and appreciated.  


The water that is visible in our use is only the small part of the water that we actually consume. 

The term virtual water was, hence, defined in 1998 and it is the volume of water required for making a product and the water used in all the steps of the production chain.

Virtual water is comprised of 3 different components:


According to The water footprint of cotton consumption to produce 1 pair of jeans, 10,850 liters of water are needed:


Read more about virtual water here.