Though Earth's human population is increasing, it currently uses only a relatively small fraction of the supply of fresh water.
Conclusion (Thus)
Claims that water shortages will plague humankind in the near future unless population growth trends change are simply mistaken.
rephrase: Even if population growth trends continue, water shortages aren't necessarily going to plague humankind.
Evidence
Even though human population is increasing, it currently uses only a relatively small fraction of Earth's supply of fresh water.
Evaluate
Given that ... we only currently use a small fraction of Earth's supply of fresh water How can we say that ... as population continues to increase, water shortages will plague humankind?
When we're dealing with Predictions, we usually want to consider what other sort of stuff could change in the future.
Maybe currently we're only using a small fraction of Earth's fresh water supply, but we haven't yet faced the ravages of climate change. Perhaps we will soon face climatic feedback loops from climate change that will evaporate tons of our water or taint our water or make a lot of it inaccessible.
Maybe the (natural or man-made) distribution networks that move water from one place to another will get impaired.
Goal
It's hard to know what the correct answer will be addressing, but it will probably deal with something other than Earth's water supply, as a potential factor in how water shortages will soon plague us.
Let's just keep the Anti-Conclusion in mind,