The most common and most likely answer to this crossword clue is the 5 letter word EVIAN
I've seen this crossword clue in Independent
E
V
I
A
N
More clues leading to the result EVIAN
- Rejected natural water source
- Recalled unsophisticated French spa town
- Bottled water that’s still the first drunk by 12 mostly
- Water that’s green welling up
- Green revolution does for bottled water company
- Water from stone via nuclearisation
- Bring back simple springwater
- Energy by way of new spa
- Comeback of ingenuous Perrier rival
Buddy explains!

The straight part
We know that "Water" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case water = evian.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.