Italy will open their Group C campaign against Denmark Under-21s on Sunday night as they go in search of their sixth European title at Under-21 level.
Spain Under-21s are seen by many as the favourites to land the trophy, but Atalanta BC forward Petagna has said that "everyone fears Italy this time".
"I am very optimistic and certain that Italy will make a good impression," Petagna told L'Eco di Bergamo. "Just try to look back and find how long it's been since the Under-21 side has been entirely made up of players who start regularly in Serie A.
"In this squad, there are players capable of changing the game at any moment, for example Domenico Berardi, who on the right day is unstoppable even in Serie A. On the other flank, we've got Federico Bernardeschi, a real luxury player. Everyone fears Italy this time and there must be a reason."
Petagna, who scored five Serie A goals last season, made his senior debut for Italy in March.