The present invention provides a method of forming particles using supercritical fluid (SCF). In accordance with the method, one or more growth retardant compounds having both SCF-philic and SCF-phobic groups are present when one or more solute materials reach a supersaturation point and begin to form particle nuclei. The growth retardant compounds can reduce the particle growth rate, increase the nucleation rate and also prevent particle agglomeration. Preferred growth retardant compounds include sugar acetates and fluorocarbons.